[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. 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 Dividends Totals Debits $ 5,900 2,900 5,900 11,900 January 2 January 4 0 0 0 0 0 $ 26,600 Credits $ 4,400 3,900 0 10,000 8,300 0 $ 26,600 The following transactions occurred during January 2024: January 1 Sold inventory for cash, $4,400. The cost of the inventory was $2,900. The company uses the perpetual inventory system. Purchased equipment on account for $6,400 from the Strong Company. The full amount is due in 15 days. Received a $150 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 $5,900. The cost of the inventory was $3,700. January 10 Purchased inventory on account for $9,950. January 13 Purchased equipment for cash, $800. January 16 Paid the entire amount due to the Strong Company. January 18 Received $5,800 from customers on account. January 20 Paid $800 to the owner of the building for January's rent. January 30 Paid employees $3,900 for salaries for the month of January. January 31 Paid a cash dividend of $1,000 to shareholders. 1. & 3. Enter the beginning balances as of January 1, 2024 and post the entries to T-accounts. Note: Enter the date of the transaction in the column next to the amount.

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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, $4,400. The cost of the inventory was $2,900. The company uses the perpetual inventory system. purchased equipment on account for $6,400 from the Strong Company. The full anount is due in 15 January 2 Purch days. January 4 Received a $150 invoice from the local newspaper requesting payment for an advertiseaent that Whit low placed in the paper on January 2. January 8 Sold inventory on account for $5,900. The cost of the inventory was $3,700. January 18 Purchased inventory on account for $9,950. January 13 purchased equipment for cash, s8e0. January 13 Purchased equipment for cash, said the entire asount due to the strong Company. January 18 Received $5,800 fron custosers on account. January 20 Paid 58e0 to the owner of the building for January's rent. January 30 Paid enployees $3,900 for solaries for the nonth of January. January 31 paid a cash dividend of 51,0e0 to shareholders. 1. \& 3. Enter the beginning balances os of January 1, 2024 and post the eniries to T-accounts. Note: Enter the date of the transaction in the column next to the amount. [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, $4,400. The cost of the inventory was $2,900. The company uses the perpetual inventory system. January 2 Purchased equipnent on account for $6,400 froe the Strong company. The full amount is due in 15 January 4 Received a 5150 invoice from the local newspaper requesting payment for an advertisement that Whit low placed in the paper on January 2. January 8 Sold inventory on account for $5,900. The cost of the inventory was $3,700. January 10 purchased inventory on account for $9,950. January 13 Purchased equipent for cash, ssee. January 16 Paid the entire asount due to the Strong Company. January 18 Received $5,800 from customers on account. January 20 Paid s8ee to the owner of the building for January's rent. January 30 Paid employees $3,900 for salaries for the month of January. January 31 paid a cash dividend of $1,000 to shareholders. 1. \& 3. Enter the beginning balances as of January 1,2024 and post the entries to T-accounts. Note: Enter the date of the transaction in the column next to the amount. Note: Enter the date of the transaction in the column next to the amount