The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2023. Account Title Cash Accounts receivable Inventory Equipment Accumulated depreciation Accounts payable Accrued liabilities Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Advertising expense Dividends Totals The following transactions occurred during January 2024: Debits $ 4,000 Credits 1,000 4,000 10,000 $ 2,500 2,000 0 8,000 6,500 0 0 0 0 0 0 $ 19,000 $ 19,000 January 1 Sold inventory for cash, $2,500. The cost of the inventory was $1,000. The company uses the perpetual inventory system. January 2 Purchased equipment on account for $4,500 from the Strong Company. The full amount is due in 15 days. January 4 Received a $100 invoice from the local newspaper requesting payment for an advertisement that Whitlow placed in the paper on January 2. January 8 Sold inventory on account for $4,000. The cost of the inventory was $1,800. January 10 Purchased inventory on account for $9,000. January 13 Purchased equipment for cash, $700. January 16 Paid the entire amount due to the Strong Company. January 18 Received $3,900 from customers on account. January 20 Paid $700 to the owner of the building for January's rent. January 30 Paid employees $2,000 for salaries for the month of January. January 31 Paid a cash dividend of $800 to shareholders. 1. & 3. Enter the beginning balances as of January 1, 2024 and post the entries to T-accounts. Note: Enter the date of the transaction in the column next to the amount.