The following transactions occurred during January 2024: January 1 Sold inventory for cash, \$2,900. The cost of the inventory was $1,400. The company uses the perpetual inventory system. January 2 Purchased equipment on account for $4,900 from the Strong Company. The full anount is due in 15 January 4 Received a $200 invoice from the local newspaper requesting payment for an advertisemplent that Whit low placed in the paper on January 2. January 8 Sold inventory on account for $4,400. The cost of the inventory was $2,200. January 16 Purchased inventory on account for $9,200. January 13 Purchased equipnent for cash, $900. January 16 Paid the entire anount due to the Strong Company. January 18 Received $4,000 from customers on account. January 20 Paid $900 to the owner of the building for January's rent. January 30 . Paid employees $2,400 for salaries for the month of January. January 31 paid a cash dividend of $900 to shareholders