Nelson Goh started a sustainable consulting firm called Green Consulting using his home as his office. He began operations and completed five transactions in January that resulted in the following accounts.

All the accounts have normal balances.

Bank $31,360

Prepaid insurance 1,600

Office equipment 12,800

Accounts payable 12,800

Nelson Goh, Capital 32,000

Consulting fee earned 3,200

Miscellaneous expense 2,240

Required

(a) Prepare a trial balance for this business as at the end of January.

(b) Examine the accounts and their balances and prepare a list that describes each of the five most likely transactions.

(c) Record the journals for these transactions.