estion 1: e following is a summary of the transactions that took place in WALI Ltd during October 19, . . . October 1st WALI started a new business with 30,000 cash October 3rd bought a machine at a cost of 14,000 on credit from CAB Ltd. October 4th paid 8,000 monthly Insurance. October 6th bought stock using 10,000 cash. October 9th sold goods of 12,000 for cash, and sold goods of 5,000 on credit to MOP Ltd October 12th collected the 5,000 cash from MOP Ltd. October 14th paid 2,000 monthly bills. October 16th the owner took 200 cash from the business to buy a gift for his wife on his birthday. October 28th paid 10,000 monthly Utilities October 29th paid 10,000 to CAB Ltd. . . Required a) Record the above transactions in a set of journal entries. (30 marks) b) Open ledger accounts for Cash, Insurance, and Sales, and calculate their final balances at the end of the period. (10 marks) (Total 40 marks)