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Please help!! Required information [The following information applies to the questions displayed below] The following is the post-closing trial balance for the Whitlow Manufacturing Corporation
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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, \$2,7ee. The cost of the merchandise was \$1, 200. The company uses the perpetual inventory system. 2. Purchased equipment on account for $4,700 fron the Strong Company. 4 Rheceived a \$150 invoice from the local newspaper requesting payment for an advertisement that whitlon placed in the paper on January 2 . 8 Sold merchandise on account for $4,200. The cost of the merchandise was $2,000. 10. Purchased merchandise on account for $9,160. 13 Purchased eguinment for cash, $800. The following transactions occurred during January 2021 : Jan, 1 Sold merchandise for.cash, $2,700. The cost of the nerchandise was $1,200. The cospany uses the perpetual inventory system, 2. Purchased eqquipnent on account for $4,760 from the Strong Company. 4 Received a $150 invoice fron the local newspaper nequesting paynent for an advertisewent that Whitlou placed in the paper on January 2 . 8 Sold merchandise on account for $4,200. The cost of the merchandise was $2,009. 10 Purchased aerchandise on account for $9,100. 13 Purchased equipaent for cash; $800. 16 Paid the entire anount due to the Strong Conpany. 18 Received $3,B00 from custosers on account. 20 Paid $800 to the owner of the building for January's rent. 38 Paid enployees $2,290 fon salaries for the aonth of January. 31 Paid a cash dividend of $1,000 to sharebolders. 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.) 1 Required information Eeg. bal. Equipment 1 Required information \begin{tabular}{|l|l|l|l|l|l|} \hline \multicolumn{2}{|c|}{ Accumulated Depreciation } & & & \\ \hline Beg. bal. & & & & & \\ \hline \end{tabular} 1) Required information \begin{tabular}{|l|l|l|l|l|l|} \hline Beg. bal Retained Earnings & & & & & \\ \hline & & & & & \\ \hline \end{tabular} Step by Step Solution
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