The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2015.

Account Title	Debits	Credits
Cash	5,000
Accounts receivable	2,000
Inventory	5,000
Equipment	11,000
Accumulated depreciationequipment		3,500
Accounts payable		3,000
Common stock		10,000
Retained earnings		6,500
Sales revenue		0
Cost of goods sold	0
Salaries and wages expense	0
Rent expense	0
Advertising expense	0
Totals	23,000	23,000

The following transactions occurred during January 2016:
Jan. 1		Sold merchandise for cash, $3,500. The cost of the merchandise was $2,000. The company uses the perpetual inventory system.
2		Purchased equipment on account for $5,500 from the Strong Company.
4		Received a $150 bill from the local newspaper for an advertisement that appeared in the paper on January 2.
8		Sold merchandise on account for $5,000. The cost of the merchandise was $2,800.
10		Purchased merchandise on account for $9,500.
13		Purchased equipment for cash, $800.
16		Paid the entire amount due to the Strong Company.
18		Received $4,000 from customers on account.
20		Paid $800 to the owner of the building for January's rent.
30		Paid employees $3,000 for salaries and wages for the month of January.
31		Paid a cash dividend of $1,000 to shareholders.

1.

value: 1.25 points

Required information

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.)

References

eBook & Resources

WorksheetLearning Objective: 02-02 Record transactions using the general journal format.

Difficulty: 3 HardLearning Objective: 02-03 Post the effects of journal entries to general ledger accounts and prepare an unadjusted trial balance.

Check my work

2.

value: 1.25 points

Required information

3.	Post the transactions into the appropriate T-accounts. (Enter the date of the transaction in the column next to the amount. Be sure to include beginning balances.)

References

eBook & Resources

WorksheetLearning Objective: 02-02 Record transactions using the general journal format.

Difficulty: 3 HardLearning Objective: 02-03 Post the effects of journal entries to general ledger accounts and prepare an unadjusted trial balance.

Check my work

3.

value: 1.25 points

Required information

4.	Prepare an unadjusted trial balance as of January 31, 2016.