Jenna Aracel opened a business called Aracel Engineering and recorded the following transactions in its first month of operations un. 1 enna Aracel, the owner, invested $180,e00 cash, office equipment with a value of s5,e0e, and $6e,e09 of drafting equipment un. 2 The company purchased land worth $49,099 for an office by paying $6,389 cash and signing a long-term note payable for un. 2 The company purchased a portable building with $5s,eee cash and moved it onto the land acquired on June 2. to launch the company in exchange for common stock un. 2 The company paid $3,800 cash for the premium on a 15-month insurance policy un. 7 The company completed and delivered a set of plans for a client and collected $6,280 cash un. 12 The company purchased $2e,e0 of additional drafting equipment by paying s9,see cash and signing a long-term note payable for $18,580 un. 14 The company completed $14,eee of engineering services for a client. This amount is to be received in 3e days un. 15 The company purchased $1,150 of additional office equipment on credit. Jun. 17 The company completed engineering services for $22,eee on credit Oun. 18 The company received a bill for rent of equipnent that vas used on a recently completed job. The $1,333 rent cost must be paid within 38 days Jun. 29 The company collected $7,e0e cash in partial payment from the client billed on June 14. un. 21 The company paid $1,28e cash for wages to a drafting assistant Jun. 23 The company paid $1,150 cash to settle the account payable created on June 15 un. 24 The company paid $925 cash for minor maintenance of its drafting equipment. Jun. 26 The company paid $9,488 cash in dividends Jun. 28 The company paid $1,2890 cash for wages to a drafting assistant un. 30 The company paid $2,5ee cash for advertisements on the web during June. Descriptions of items that require adjusting entries on June 30, 2017, follow a) The company has completed, but not yet billed, $6.000 of engineering services for a client b) Straight-line depreciation on the office equipment, assuming a 5 year life and a $150 salvage value, is $100 per month. c) Straight-line depreciation on the drafting equipment, assuming a 5-year life and a $2.000 salivage value, is $1,300 per month d) Straight-line depreciation on the building, assuming a 25-year life and a $1,000 salvage value, is $180 per month e) The balance in prepaid insurance represents a 15-month policy that went into effect on June 1 ) Accrued interest on the long-term note payable is $75 g) The drafting assistant is paid $1200 for a 5-day work week. 2 days' wages have been incurred but are unpaid as of month-end. Ledger Trial BalanceIncome Earnings Balance Sheet Impact on Income For transactions a-g, review the unadjusted balance an d prepare the adjusting entry necessary to correctly report the revenue or the expense incurred. Each adjustment is posted automatically to the general ledger and trial balance as soon as