Aracel Engineering completed the following transactions in the month of June. a. Jenna Aracel, the owner, invested $210,000 cash, office equipment with a value of $6,800, and $63,000 of drafting equipment to launch the company in exchange for common stock. b. The company purchased land worth $60,000 for an office by paying $9,500 cash and signing a long-term note payable for $50,500 c. The company purchased a portable building with $59,000 cash and moved it onto the land acquired in b. d. The company paid $3,700 cash for the premium on an 18-month insurance policy. e. The company completed and delivered a set of plans for a client and collected $6,200 cash. f. The company purchased $28,000 of additional drafting equipment by paying $11,000 cash and signing a long-term note payable for $17,000. g. The company completed $16,500 of engineering services for a client. This amount is to be received in 30 days. h. The company purchased $1,250 of additional office equipment on credit. i. The company completed engineering services for $22,000 on credit j. The company received a bill for rent of equipment that was used on a recently completed job. The $1,384 rent cost must be paid within 30 days. k. The company collected $9,000 cash in partial payment from the client described in transaction g. 1. The company paid $1,600 cash for wages to a drafting assistant. m. The company paid $1,250 cash to settle the account payable created in transaction h. n. The company paid $1,175 cash for minor maintenance of its drafting equipment. o. The company paid $10,640 cash in dividends, p. The company paid $2,400 cash for wages to a drafting assistant The company paid $3,800 cash for advertisements on the Web during June. q. 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); 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. 2 Drenare a trial balance as of the end of June