Aracel Engineering completed the following transactions in the month of June. a. J. Aracel, the owner, invested $230,000 cash, office equipment with a value of $7,100, and $79,000 of drafting equipment to launch the company in exchange for common stock. b. The company purchased land worth $55,000 for an office by paying $7,100 cash and signing a note payable for $47,900. c. The company purchased a portable building with $60,000 cash and moved it onto the land acquired in b. d. The company paid $3,900 cash for the premium on an 18-month insurance policy. e. The company provided services to a client and collected $8,600 cash. f. The company purchased $22,000 of additional drafting equipment by paying $11,900 cash and signing a note payable for $10,100. g. The company completed $17,000 of services for a client. This amount is to be received in 30 days. h. The company purchased $1,000 of additional office equipment on credit. i. The company completed $21,000 of services for a customer on credit. j. The company purchased $1,617 of TV advertising on credit. k. The company collected $7,000 cash in partial payment from the client described in transaction g 1. The company paid $1,400 cash for employee wages. m. The company paid $1,000 cash to settle the account payable created in transaction h. n. The company paid $1,050 cash for repairs. o. The company paid a $10,090 cash dividend. p. The company paid $2,400 cash for employee wages. q. The company paid $3,900 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); Common Stock (307); Dividends (319); Services Revenue (403); Wages Expense (601); 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.