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. Account Title Cash Accounts receivable Inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Sales revenue Cost of goods sold Debits Credits 5,700 2,700 5,700 11,700 4,200 3,700. 9,000 8,900 0 Salaries expense Rent expense Advertising expense Dividends Totals 0 0 25,800 25,800 The following transactions occurred during January 2021: Jan. 1 Sold merchandise for cash, $4,200. The cost of the merchandise was $2,700. The company uses the perpetual inventory system. 2 Purchased equipment on account for $6,200 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 $5,700. The cost of the merchandise was $3,500. 10 Purchased merchandise on account for $9,850. 13 Purchased equipment for cash, $900, 16 Paid the entire amount due to the Strong Company. 18 Received $5,400 from customers on account. 20 Paid $900 to the owner of the building for January's rent. 30 Paid employees $3,700 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.) Cash Beg bal Accounts Receivable Beg. bal. < Prev 6 7 of 8 Next > 6 BECK Ak Bat Peferentec The following is the post-closing tital balance for the Whitlow Manufacturing Corporation as of December 31, 2020. Accumulated Eaton Retained earnings Sales P Sata s Pontispice Divid Totals CURES 5.700 21780 5.700 4,200 The following transactions occurred during January 2021 Jan. 1 Sold for Luch, $4,200, 17e cost of the merchandise at $2,700. The copy as the 2 lurchased LLIGARE CT SCLO For $5,200 from the Strong Copy 2 hoc f local joven for that astione pated in Sold in ink Fa $5,700. The cost of the merchandise was $3,500. 29 Mad Seco the on 28 Malds $3.72 the Lithia for maint 13 Ls for the sath of Januar 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 Cech Bag bo Accounts Receivable Beg bat Enc. bill Inventory Equipment Bag ta Bag, bal End is End. ba Aboumulated Depreolation Accounts Payable Bag bal End bal End bal Common Stock Dividends Bag ba Bag bal End, ba End. ball Retained Earings Selec Revenue Eog ba Bag nal End bal Cost of Goods Bold Rent Expanca Bog ba End bi Salaries Expense Advertsing EXERDAR Bug ba End