1. The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2023. Account Title Cash Accounts receivable Inventory Equipment Accumulated depreciation Debits Credits $ 4,000 1,000 4,000 10,000 $2,500 2,000 0 8,000 6,500 0 Accounts payable Accrued liabilities Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Advertising expense Dividends Totals 0 0 $ 19,000 $ 19,000 The following transactions occurred during January 2024: January 1 Sold inventory for cash, $2,500. The cost of the inventory was $1,000. The company uses the perpetual inventory system. January 2 Purchased equipment on account for $4,500 from the Strong Company. The full amount is due in 15 days. January 4 Received a $100 invoice from the local newspaper requesting payment for an advertisement that Whitlow placed in the paper on January 2. January 8 Sold inventory on account for $4,000. The cost of the inventory was $1,800. January 10Purchased inventory on account for $9,000. January 13Purchased equipment for cash, $700. January 16Paid the entire amount due to the Strong Company. January 18Received $3,900 from customers on account. January 20Paid $700 to the owner of the building for January's rent. January 30Paid employees $2,000 for salaries for the month of January. January 31Paid a cash dividend of $800 to shareholders. REQUIRED: For each of the above transactions, post one of the journal entries to the class!