The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2017. Account Title Debits Credits Cash 6,000 Accounts receivable 3,000 Inventory 6,000 Equipment 12,000 Accumulated depreciationequipment 4,500 Accounts payable 4,000 Common stock 9,000 Retained earnings 9,500 Sales revenue 0 Cost of goods sold 0 Salaries and wages expense 0 Rent expense 0 Advertising expense 0 Totals 27,000 27,000 The following transactions occurred during January 2018: Jan. 1 Sold merchandise for cash, $4,500. The cost of the merchandise was $3,000. The company uses the perpetual inventory system. 2 Purchased equipment on account for $6,500 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. 8 Sold merchandise on account for $6,000. The cost of the merchandise was $3,800. 10 Purchased merchandise on account for $10,000. 13 Purchased equipment for cash, $900. 16 Paid the entire amount due to the Strong Company. 18 Received $6,000 from customers on account. 20 Paid $900 to the owner of the building for Januarys rent. 30 Paid employees $4,000 for salaries and wages for the month of January. 31 Paid a cash dividend of $900 to shareholders.