Question 1 Samantha Teo started a home-based food business after Singapore entered into phase 3 of Re- opening. She began operations and completed five transactions in February that resulted in the following accounts. All the accounts have normal balances. Bank Prepaid insurance Kitchen equipment Accounts payable Samantha Teo, Capital Sales Food expenses $19,600 1,000 8,000 8,000 20,000 2,000 1,400 Required: (a) Present a trial balance for this business as at the end of February. (10 marks) (b) Examine the accounts and their balances and prepare a list that describes each of the five most likely transactions. (10 marks) (c) Prepare the journal entries for these transactions. (10 marks)