Required:

2. Prepare general journal entries to record each transaction.

Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

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, 2023. The following transactions occurred during January 2024 : January 1 Sold inventory for cash, $2,500. The cost of the inventory was $1,00. 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 $10 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,e. The cost of the inventory was $1,80. January 10 Purchased inventory on account for $9,00. January 13 Purchased equipment for cash, \$700. January 16 Paid the entire amount due to the Strong Company. January 18 Received $3,90 from customers on account. January 20 Paid $700 to the owner of the building for January's rent. January 3 Paid employees $2,0 for salaries for the month of January. January 31 Paid a cash dividend of $800 to shareholders