Aracel Engineering completed the following transactions in the morith of June. a. Jenna Aracel, the owner, invested $220,000 cash, office equipment with a value of $8,800, and $80,000 of drafting equipment to launch the company in exchange for common stock. b. The company purchased land worth $58,000 for an office by paying $8,400 cash and signing a long-term note payable for $49,600. c. The company purchased a portable building with $58,000 cash and moved it onto the land acquired in b. d. The company paid $4,700 cash for the premium on an 18 -month insurance policy. e. The company completed and dellvered a set of plans for a client and collected $6,100 cash. f. The company purchased $26,000 of additional drafting equipment by paying $10,200 cash and signing a long-term note payable for $15,800. g. The company completed $15,000 of engineering services for a client. This amount is to be received in 30 days. h. The company purchased $1,150 of additional office equipment on credit. i. The company completed engineering services for $25,000 on credit. j. The company received a bill for rent of equipment that was used on a recently completed job. The $1,627 rent cost must be paid within 30 days. k. The company collected $6,000 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 $1,150 cash to settle the account payable created in transaction h. n. The company paid $905 cash for minor maintenance of its drafting equipment. o. The company paid a $10,020 cash dividend. p. The company paid $1,600 cash for wages to a drafting assistant. q. The company paid $2,800 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); Buliding (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. 3. Prepare a trial balance as of the end of June. Prepare a trial balance as of the end of June