Question

The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2020. Account Title Cash Debits Credits 5,700 2,700 Accounts receivable 5,700 11,700 Inventory Equipment Accumulated depreciation Accounts payable 4,200 3,700 Accrued 1iabilities 9,000 8,900 Common stock Retained earnings Sales revenue 36 Cost of goods sold Salaries expense Rent expense Advertising expense Totals 25,800 25,800 The following transactions occurred during January 2021: 1 Sold merchandise for cash, $4,200. The cost of the merchandise vas $2,700. The company uses the perpetual inventory systen. 2 Purchased equipment on account ftor $6,200 from the Strong Conpany. 4 Received a $200 invoice fron the local newapaper requesting payment for an advertisement that Whitlow placed in the paper on January 2. 8 Sold merchandise on account for $5,700. The cost of the merchandise was $3,500. 10 Purchased merchandise on account for $9,850. 13 Purchased equipment for cash, $900. 16 Paid the entire amount due to the Strong Company. 18 Received $5,400 from cuntomera on account. 20 Paid $900 to the owner of the building for January's rent. 30 Paid employees $3,700 for salaries for the month of January. 31 Paid a cash dividend of $900 to shareholders. Jan. 1. & 3. Enter the beginning balances as of January 1, 2021 and post the entries to T-accounts. (Enter the date of the transaction in the

Answer 1

In Question , only asked for T accounts to prepare . Please see below answer relates to all "T Account "

Journal Entry
Date	Details	Debit($)	Credit($)
Jan1	Record sales
	( perpetual Inventory )
	Cash	4,200
	Sales Revenue		4,200
Jan1	Cost of good sold	2,700
	Inventory		2,700
Jan2	Equipment	6,200
	Account Payable		6,200
Jan4	Advertisement Exp	200
	Account Payable		200
Jan8	Account receivable	5,700
	Sales Revenue		5,700
Jan8	Cost of good sold	3,500
	Inventory		3,500
Jan10	Inventory	9,850
	Account Payable		9,850
Jan13	Equipment	900
	Cash		900
Jan16	Account Payable	6,200
	Cash		6,200
Jan18	Cash	5,400
	Account Receivable		5,400
Jan20	Rent Expense	900
	Cash		900
Jan30	Wages	3,700
	Cash		3,700
Jan31	Retained Earnings	900
	Cash		900
	( Dividend paid out of Retained earnings )

	Cash
		Amnt($)			Amnt($)
Date	Opening Balance	5,700	Date
Jan'1	Sales Revenue	4,200	Jan'13	Equipment	900
Jan'18	Account receivable	5,400	Jan'16	Account Payable	6,200
			Jan'20	Rent	900
			Jan'30	Wages	3,700
			Jan'31	Retained Earnings ( Diviend Paid)	900
			Jan'31	Closing Balance	2700
		15,300			15,300
	Account receivable
		Amnt($)			Amnt($)
Date	Opening Balance	2,700	Date
Jan'8	Sales Revenue	5,700	Jan'18	Cash	5,400
			Jan'31	Closing Balance	3,000
		8,400			8,400
	Inventory
		Amnt($)			Amnt($)
Date	Opening Balance	5,700	Date
Jan'1	Account Payable	9,850	Jan'1	Cost of Goods Sold	2,700
			Jan'8	Cost of Goods Sold	3,500
			Jan'31	Closing Balance	9,350
		15,550			15,550
	Equipment
		Amnt($)			Amnt($)
Date	Opening Balance	11,700	Date
Jan2	Account Payable	6,200			-
Jan13	Cash	900			-
			Jan'31	Closing Balance	18,800
		18,800			18,800
	Accumulated depreciation
		Amnt($)			Amnt($)
Date			Date	Opening Balance	4,200
Jan31	Closing Balance	4,200
		4,200			4,200
	Accounts Payable
		Amnt($)			Amnt($)
Date			Date	Opening Balance	3,700
Jan16	Cash	6,200	Jan2	Equipment	6,200
Jan31	Closing Balance	13,750	Jan4	Advertisement Exp	200
			Jan10	Inventory	9,850
		19,950			19,950
	Retained Earnings
		Amnt($)			Amnt($)
Date			Date	Opening Balance	8,900
Jan31	Cash	900
Jan31	Closing Balance	8,000
		8,900			8,900
	Sales
		Amnt($)			Amnt($)
Date			Date
			Jan1	Cash	4,200
Jan31	Closing Balance	9,900	Jan8	Account receivable	5,700
		9,900			9,900
	Cost of goods Sold
		Amnt($)			Amnt($)
Date			Date
Jan'1	Inventory	2,700
Jan'1	Inventory	3,500	Jan31	Closing Balance	6,200
		6,200			6,200
	Wages
		Amnt($)			Amnt($)
Date			Date
Jan30	Cash	3,700
			Jan31	Closing Balance	3,700
		3,700			3,700
	Rent
		Amnt($)			Amnt($)
Date			Date
		Amnt($)
Jan20	Cash	900	Jan31	Closing Balance	900
		900			900
	Advertisement
		Amnt($)			Amnt($)
Date			Date
		Amnt($)
Jan4	Account Payable	200	Jan31	Closing Balance	200
		200			200

Final Trial balance
Deatils	Debit($)	Credit($)
Cash	2,700
Account Receivable	3,000
Inventory	9,350
Equipment	18,800
Accumulated depreciaition		4,200
Account Payable		13,750
Common Stock		9,000
Retained Earnings		8,000
Sales Revenue		9,900
Cost of Goods Sold	6,200
Wages	3,700
Rent	900
Advertisement	200
Total	44,850	44,850