Save 5 08:57:49 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 $5,700, and $63,000 of drafting equipment to launch the company in exchange for common stock. b. The company purchased land worth $53,000 for an office by paying $8,700 cash and signing a note payable for $44,300 c. The company purchased a portable building with $55,000 cash and moved it onto the land acquired in b. d. The company paid $3,400 cash for the premium on an 18-month insurance policy. e. The company provided services to a client and collected $7,100 cash. f. The company purchased $25,000 of additional drafting equipment by paying $11.700 cash and signing a note payable for $13,300. 9. The company completed $14,000 of services for a client. This amount is to be received in 30 days. h. The company purchased $1,650 of additional office equipment on credit. 1. The company completed $27,000 of services for a customer on credit. J. The company purchased $1.539 of TV advertising on credit k. The company collected $7,000 cash in partial payment from the client described in transaction 9 1. The company paid $2,300 cash for employee wages. m. The company paid $1650 cash to settle the account payable created in transaction n. n. The company paid $1,045 cash for repairs, o. The company paid a $9,320 cash dividend. p. The company paid $2,500 cash for employee wages, 4. The company paid $3,800 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); 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