[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 4,700 1,700 4,700 10,700 Account Title Cash Accounts receivable Inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Advertising expense Totals 3,200 2,700 9,000 6,900 @ @ 21,800 21,800 The following transactions occurred during January 2021: Jan. 1 Sold merchandise for cash, $3,200. The cost of the merchandise was $1,700. The company uses the perpetual inventory system. 2 Purchased equipment on account for $5,200 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. Sold merchandise on account for $4,700. The cost of the merchandise was 8 $2,500. 10 Purchased merchandise on account for $9,350. 13 Purchased equipment for cash, $900. 16 Paid the entire amount due to the Strong Company. 18 Received $3,700 from customers on account. 20 Paid $900 to the owner of the building for January's rent. 30 Paid employees $2,700 for salaries for the month of January. 31 Paid a cash dividend of $900 to shareholders. I Required: 2. Prepare general journal entries to record each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)