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 Debits Credits Cash 5,200 Accounts receivable 2,200 Inventory 5,200 Equipment 11,200 Accumulated depreciation 3,700 Accounts payable 3,200 Common stock 8,000 Retained earnings 8,900 Sales revenue Cost of goods sold Salaries expense Rent expense Advertising expense Dividends Totals 23,800 23,800 @ 10 DDOO The following transactions occurred during January 2021: Jan. 1 Sold merchandise for cash, $3,700. The cost of the merchandise was $2,200. The company uses the perpetual inventory system. 2 Purchased equipment on account for $5,700 from the Strong company. 4 Received a $100 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 $5,200. The cost of the merchandise was $3,000. 10 Purchased merchandise on account for $9,600. 13 Purchased equipment for cash, $700. 16 Paid the entire amount due to the Strong Company. 18 Received $4,400 from customers on account. 20 Paid $700 to the owner of the building for January's rent. 30 Paid employees $3,200 for salaries for the month of January. 31 Paid a cash dividend of $800 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.) 1. & 3. Enter the beginning balances as of January 1. 2021 and post the entries to Toccounts (Enter the date of the transaction in the column next to the amount.) Bog bal 1/1 1/18 Cash 5.200 3.700 4,400 Beg bal P118 Accounts Receivable 2,200 5,200 44001718 700/13 5.700 1/16 7001/20 3.200 (1/30 8001/31 End bal 2 2001 End bol 3,000 Beg bal 1/10 Inventory 5.200 9.500 Equipment 11,200 5,700 700 Beg bal 12 1/13 2.200 111 3.000 118 End bal 9.500 End bal 17,600 Accumulated Depreciation 3.700 Beg bal Beg tal 1/16 Accounts Payable 3.2001 5,700 5.7001/2 100 1/4 9.6001/10 End bal 3.700 End bal 12.900 Dividends Comenon Stock 8.000 Beg bal Beg bal End bal 8.000 End bal Retained Earnings Sales Revenue Beg bal 1/31 Begal 1/1 3.700 1/1 5.2001/8 End bal End bol 8.900 Cost of Goods Sold Rent Expense Beg bal 111 118 Beg bal 120 700 2.200 3.000 End bal 5,200 End bal 700 Salaries Expense Advertising Expense Beg bal (1/30 Beg bal 1/4 3.200 100 End bal 3200 End bal 100