44444 The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2020. Account Title Debito Credits Cash 5,000 Accounts recevable 2,000 Inventory 5,000 Equipment 11,000 Accumulated depreciation 3,500 Accounts payable 3,000 Accrued liabilities Common stock 10,000 Retained earnings 6,500 Sales revenue Cost of goods sold Salaries expense Rent expense Advertising expense Totals 23,000 23,000 The following transactions occurred during January 20:21: Jan. 1 Sold merchandise for cash, $3,500. The cost of the merchandise was $2,000. The company uses the perpetual Inventory system. 2 Purchased equipment on account for $5,500 from the Strong Company. 4 Recelved a $150 involce from the local newspaper requesting payment for an advertisement that Whitlow placed in the paper on January 2 8 Sold merchandise on account for $5,000. The cost of the merchandise was $2,800. 10 Purchased merchandise on account for $9,500. 13 Purchased equipment for cash, $300. 16 Pald the entire amount due to the Strong Company 18 Received $4,000 from customers on account. 20 Paid $800 to the owner of the building for January's rent. 30 Paid employees $3,000 for salaries for the month of January 31 Paid a cash dividend of $1,000 to shareholders. Required: 1. Set up T-accounts and enter the beginning balances as of January 1, 2021. 2. Prepare general journal entries to record each transaction. Omit explanations. 3. Post the entries to T-accounts. 4. Prepare an unadjusted trial balance as of January 31, 2021