Aracel Engineering completed the following transactions in the month of June.

1. J. Aracel, the owner, invested $160,000 cash, office equipment with a value of $5,500, and $71,000 of drafting equipment to launch the company in exchange for common stock.
2. The company purchased land worth $59,000 for an office by paying $7,400 cash and signing a note payable for $51,600.
3. The company purchased a portable building with $54,000 cash and moved it onto the land acquired in b.
4. The company paid $2,800 cash for the premium on an 18-month insurance policy.
5. The company provided services to a client and collected $8,900 cash.
6. The company purchased $34,000 of additional drafting equipment by paying $11,900 cash and signing a note payable for $22,100.
7. The company completed $19,500 of services for a client. This amount is to be received in 30 days.
8. The company purchased $2,000 of additional office equipment on credit.
9. The company completed $25,000 of services for a customer on credit.
10. The company purchased $1,305 of TV advertising on credit.
11. The company collected $8,000 cash in partial payment from the client described in transaction g.
12. The company paid $1,200 cash for employee wages.
13. The company paid $2,000 cash to settle the account payable created in transaction h.
14. The company paid $990 cash for repairs.
15. The company paid a $10,500 cash dividend.
16. The company paid $2,200 cash for employee wages.
17. The company paid $3,200 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.