Required Information Problem 2-2 (Algo) Accounting cycle through unadjusted trial balance [LO2-3, 2-4] [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. Credits Debits 5,380 2,300 5,300 11,300 3,800 3,380 Account Title Cash Accounts receivable Inventory Equipment Accumulated depreciation Accounts payable Accrued liabilities Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Advertising expense Totals 10,890 7,180 The following transactions occurred during January 2021: Jan. 1 Sold merchandise for cash, $3,800. The cost of the merchandise was $2,380. The company uses the perpetual inventory system. 2 Purchased equipment on account for $5,800 from the Strong company. 4 Received a $150 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 $5,388. The cost of the merchandise was $3,100. 10 Purchased merchandise on account for $9,650. 13 Purchased equipment for cash, $888. 16 Paid the entire amount due to the Strong Company. 18 Received $4,600 from customers on account. 20 Paid $800 to the owner of the building for January's rent. 30 Paid employees $3,300 for salaries for the month of January. 31 Paid a cash dividend of $1,000 to shareholders. Problem 2-2 (Algo) Part 4 4. Prepare an unadjusted trial balance as of January 31, 2021. WHITLOW MANUFACTURING CORPORATION Unadjusted Trial Balance January 31, 2021 Account Title Debits Cash Accounts receivable Credits Inventory Equipment Accumulated depreciation Accounts payable Common stock Accrued liabilities Dividends Retained earnings Sales revenue Cost of goods sold Rent expense Salaries expense Advertising expense Totals SOS