Please don't provide answer in image format thank you January 8 Sold inventory on account for $4,500. The cost of the inventory was $2,300.January 10 Purchased inventory on account for $9,250.January 13 Purchased equipment for cash, $800.January 16 Paid the entire amount due to the Strong Company.January 18 Received $4,100 from customers on account.January 20 Paid $800 to the owner of the building for January's rent.January 30 Paid employees $2,500 for salaries for the month of January.January 31 Paid a cash dividend of $1,000 to shareholders.Problem 2-2 (Algo) Part 2Required:2. Prepare general journal entries to record each transaction.Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.View transaction listJournal entry worksheet<2 34 5 6Sold inventory for cash, $3,000. Record the sale.Note: Enter debits before credits.78I13Check my work Problem 2-2 (Algo) Accounting cycle through unadjusted trial balance [LO2-3, 2-4][The following information applies to the questions displayed below.]The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2023.Debits$ 4,5001,5004,50010,500Account TitleCashAccounts receivableInventoryEquipmentAccumulated depreciationAccounts payableAccrued liabilitiesCommon stockRetained earningsSales revenueCost of goods soldSalaries expenseRent expenseAdvertising expenseDividendsTotalsO O O O00000$ 21,000Credits$ 3,0002,500010,0005,5000$ 21,000The following transactions occurred during January 2024:January 1 Sold inventory for cash, $3,000. The cost of the inventory was $1,500. The company uses theperpetual inventory system.January 2Purchased equipment on account for $5,000 from the Strong Company. The full amount is due in 15days.January 4 Received a $150 invoice from the local newspaper requesting payment for an advertisement thatWhitlow placed in the paper on January 2.January 8 Sold inventory on account for $4,500. The cost of the inventory was $2,300.January 10 Purchased inventory on account for $9,250.

January 8 Sold inventory on account for $4,500. The cost of the inventory was $2,300. January 10 Purchased inventory on account for $9,250. January 13 Purchased equipment for cash, $800. January 16 Paid the entire amount due to the Strong Company. January 18 Received $4,100 from customers on account. January 20 Paid $800 to the owner of the building for January's rent. January 30 Paid employees $2,500 for salaries for the month of January. January 31 Paid a cash dividend of $1,000 to shareholders. Problem 2-2 (Algo) Part 2 Required: 2. Prepare general journal entries to record each transaction. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

January 8 Sold inventory on account for $4,500. The cost of the inventory was $2,300. January 10 Purchased inventory on account for $9,250. January 13 Purchased equipment for cash, $800. January 16 Paid the entire amount due to the Strong Company. January 18 Received $4,100 from customers on account. January 20 Paid $800 to the owner of the building for January's rent. January 30 Paid employees $2,500 for salaries for the month of January. January 31 Paid a cash dividend of $1,000 to shareholders. Problem 2-2 (Algo) Part 2 Required: 2. Prepare general journal entries to record each transaction. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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