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Required information The following information applies to the questions displayed below. The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2017 nt Title DebitsCredits Cas Accounts receivable Inventory Equipment Accumulated depreciation-equipment Accounts payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries and wages expense Rent expense Advertising expense Totals 5,600 2,600 5,600 11,600 4,100 3,600 10,000 7,700 25,400 25,400 The following transactions occurred during January 2018: Jan. 1 Sold merchandise for cash, $4,100. The cost of the merchandise was $2,600. The perpetual inventory system. 2 Purchased equipment on account for s6,100 from the Strong Company 4 Received a $150 invoice fromthe requesting e local newspaper requesting payment for an advertisement that whitl placed in the paper on Janua 8 Sold merchandise on account for $5,600 10 Purchased nerchandise on account for $9,800. 13 Purchased equipment for cash, $800 . The cost of the merchandise was $3,400. Paid the entire amount due to the Strong Company. 18 Received $5,200 from customers on account. 20 Paid $800 to the owner of the building tor January's rent. 30 Paid employees $3,600 31 Paid a cash dividend of $1,000 to shareholders. for salaries and wages for the month of January

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