The following transactions occurred during January $2024$:January $1$ Sold inventory for cash, $$3,100.$ The cost of the inventory was $$1,600.$The company uses the perpetual inventory system.Purchased equipment on account for $$5,100$ from the Strong Company. TheJanuary $2$full amount is due in $15$ days.January $4$Received a $$100$ invoice from the local newspaper requesting payment for an advertisement that Whitlow placed in the paper on January $2.$Sold inventory on account for $$4,600.$ The cost of the inventory wasJanuary $8$$$2,400.$January $10$Purchased inventory on account for $$9,300.$January$13$Purchased equipment for cash, $$700.$January$16$ Paid the entire amount due to the Strong CompanyJanuary$18$Received $$3,600$ from customers on account.JanuaryPaid $$700$ to the owner of the building for January's rent.January$30$Paid employees $$2,600$ for salaries for the month of January.January $31$Paid a cash dividend of $$800$ to shareholders.Problem $2-2($Algo$)$ Parts $1$ and $31.$ & $3.$ Enter the beginning balances as of January $1,2024$ and post the entries to T$-$accounts.