Hello,

Can you please take a look at this problem and explain what I did wrong? Thank you.

The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2020. Account Title Debits Credits Cash 4,600 1,600 4,600 10,600 Accounts receivable Inventory Equipment Accumulated depreciation Accounts payable Accrued liabilities 3,100 2,600 0 Common stock 8,000 7,700 Retained earnings Sales revenue 0 Cost of goods sold Salaries expense Rent expense Advertising expense 21,400 Totals 21,400 The following transactions occurred during January 2021: 1 Sold merchandise for cash, $3,100. The cost of the merchandise was $1,600. The company uses the perpetual inventory system. 2 Purchased equipment on account for $5,100 from the Strong Company 4 Received a $100 invoice from the local newspaper requesting payment for an advertisement that Whitlow placed in the paper on January 2 8 Sold merchandise on account for $4,600. The cost of the merchandise was $2,400 10 Purchased merchandise on account for $9,300 13 Purchased equipment for cash, $700 16 Paid the entire amount due to the Strong Company. Jan. 18 Received $3,600 from customers on account. 20 Paid $700 to the owner of the building for January's rent. 30 Paid employees $2,600 for salaries for the month of January 31 Paid a cash dividend of $800 to shareholders. 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 column next to the amount.) Cash Accounts Receivable Beg. bal. Beg. bal 4,600 1,600 3,100 4,600 700 3,600 5,100 3,600 End. bal. End. bal 5,500 2,600 Inventory Equipment Beg. bal Beg. bal. 4,600 10,600 1,600 5,100 2,400 700 9,300 End. bal. End. bal. 9,900 16,400 Accumulated Depreciation Accounts Payable Beg. bal Beg. bal 3,100 2,600 5,100 9,300 5,100 End. bal. 3,100 End. bal. 11,900 Common Stock Accrued Liabilities Beg. bal Beg. bal. 8,000 0 100 End. bal, 8,000 100 End. bal. Retained Earnings Dividends Beg. bal 7,700 0 Beg. bal 800 End. bal. 7,700 800 End. bal. Sales Revenue Cost of Goods Sold Beg. bal. Beg. bal 0 3,100 1,600 4,600 2,400 End. bal. End. bal 4,000 7,700 Rent Expense Salaries Expense Beg. bal Beg. bal. 0 0 700 2,600 End. bal. 700 End. bal 2,600