[Ine following information applies to the questions displayed Delow.j The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2020. Account Title Cash Debits 5,100 Credits Accounts receivable 2,100 Inventory 5,100 Equipment 11,100 Accumulated depreciation 3,600 Accounts payable 3,100 Common stock 9,000 Retained earnings 7,700 0 Sales revenue Cost of goods sold Salaries expense Rent expense Advertising expense Dividends Totals 0 OOOO 0 23,400 23,400 The following transactions occurred during January 2021: Jan. 1 Sold merchandise for cash, $3,600. The cost of the merchandise was $2,100. The company uses the perpetual inventory system. 2 Purchased equipment on account for $5,600 from the Strong Company. 4 Received a $200 invoice from the local newspaper requesting payment for an advertisement that Whitlow placed in the paper on January 2. 8 Sold merchandise on account for $5,100. The cost of the merchandise was $2,900. 10 Purchased merchandise on account for $9,550. 13 Purchased equipment for cash, $900. 16 Paid the entire amount due to the Strong Company. 18 Received $4,200 from customers on account. 20 Paid $900 to the owner of the building for January's rent. 30 Paid employees $3,100 for salaries for the month of January. 31 Paid a cash dividend of $900 to shareholders. 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.)