Aracel Engineering completed the following transactions in the month of June. Jenna Aracel, the owner, invested $230,000 cash, office equipment with a value of $7,100, and $70,000 of drafting equipment to launch the company. The company purchased land worth $52,000 for an office by paying $9,400 cash and signing a long-term note payable for $42,600. The company purchased a portable building with $54,000 cash and moved it onto the land acquired in b. The company paid $3,400 cash for the premium on an 18-month insurance policy. The company completed and delivered a set of plans for a client and collected $9,300 cash. The company purchased $32,000 of additional drafting equipment by paying $9,800 cash and signing a long-term note payable for $22,200. The company completed $19,500 of engineering services for a client. This amount is to be received in 30 days. The company purchased $1,450 of additional office equipment on credit. The company completed engineering services for $26,000 on credit. The company received a bill for rent of equipment that was used on a recently completed job. The $1,400 rent cost must be paid within 30 days. The company collected $7,000 cash in partial payment from the client described in transaction g. The company paid $1,600 cash for wages to a drafting assistant. The company paid $1,450 cash to settle the account payable created in transaction h. The company paid $1,080 cash for minor maintenance of its drafting equipment. Jenna Aracel withdrew $10,750 cash from the company for personal use. The company paid $1,400 cash for wages to a drafting assistant. The company paid $2,700 cash for advertisements on the Web during June. Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Prepaid Insurance (108); Office Equipment (163); Drafting Equipment (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); J. Aracel, Capital (301); J. Aracel, Withdrawals (302); Engineering Fees Earned (402); Wages Expense (601); Equipment Rental Expense (602); Advertising Expense (603); and Repairs Expense (604). 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of the end of June.