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Required information [The following information applies to the questions displayed below] The following is the...

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Accounting

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Required information [The following information applies to the questions displayed below] The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31,2020 . The following transactions occurred during January 2021 : Jan. 1 sold merchandise for cash, \$2,800. The cost of the menchandise was $1,390. The conpany uses the perpetual inventory system. 2 Purchased equipment on account for 94,800 from the Strong Conpany. 4 Received a $100 invoice from the local newspaper requesting payrent for an advertisesent that whitlow placed in the paper on January 2. 8 Sold merchandise on account for $4,360. The cost of the merchandise was $2,100. 10 Purchased merchandise on account for $9,150. 13 Purchased equipment for cash, 3700. 16 Paid the entire amount due to the Strong Company. 18 Recelved $3,990 from custoners on account: 20 Paid $760 to the owner of the building for January's rent. 30 Paid enployees $2,390 fon salaries for the month of January. 31 Paid a cash dividend of $800 to shareholders. Sales Revenue 1. \& 3. Enter the beginning balances as of January 1. 2021 and post the entries to T-accounts. (Enter the date of the transaction in the column next to the amount.)

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