The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2020. Credits Debits 5,500 2,500 5,500 11,500 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 4,000 3,500 8,000 9,500 @ 25,000 25,000 The following transactions occurred during January 2021: Jan. 1 Sold merchandise for cash, $4,000. The cost of the merchandise was $2,500. The company uses the perpetual inventory system. 2 Purchased equipment on account for $6,000 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. Sold merchandise on account for $5,500. The cost of the merchandise was 8 $3,300. 10 Purchased merchandise on account for $9,750. 13 Purchased equipment for cash, $700. 16 Paid the entire amount due to the Strong Company. 18 Received $5,000 from customers on account. 20 Paid $700 to the owner of the building for January's rent. 30 Paid employees $3,500 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. (Entelahe date of the transaction in the column next to the amount.) Cash Accounts Receivable Beg bal Beg bal nok int End, bal End bal rences Inventory Equipment Beg bail Beg bal End. bal End bal Accumulated Depreciation Accounts Payable Beg bal Bog bal End bal End, bal Common Stock Dividends Beg bal Beg bal Required information End bal End bal Common Stock Beg. bal Beg bol Endbal End bal Retained Earnings Sales Reven Beg bal Beg bal Endi bal End bol Cost of Goods Sold Beg bal Beg. bal Endbal End bal Sales Beg bol Beg bal End bal Endbal