The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31,2020. The following transactions occurred during January 2021 : Jan. I Sold merchandise for cash, $3,100. The cost of the merchandise was $1,600. The coopany uses the perpetual inventory system, 2 Purchased equipnent on account for $5,100 from the Strong Company. 4 Received a $100 involce from the local newspaper requesting paynent for an adventisenent that Whitlow ploced in the paper on January 2 , 8 Sold merchandise on account for $4,660. The cost of the merchandise was $2,400. 10. Purchased merchandise on account for $9,300. 13 Purchased equipment for cash, $700. 16 Paid the entire amount due to the strong Company. 18 Received $3,600 from custoirers on account. 20 Paid $760 to the owmer of the building for January's rent. 30 Paid employees $2,600 for salaries for the month of January. 31 Paid a cash dividend of $809 to shareholders. Journal entry worksheet The cost of the merchandise was $1,600. The company uses the perpetual inventory system. Note: Enter debits before credits