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Question: the following transactions occurred during january 2018 jan 1 sold...

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The following transactions occurred during January 2018: Jan. 1 Sold merchandise for cash, $3,300. The cost of the merchandise was $1,800. The company uses the perpetual inventory system. 2 Purchased equipment on account for $5,300 from the Strong Company. 4 Received a $150 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 $4,800. The cost of the merchandise was $2,600. 10 Purchased merchandise on account for $9,400. 13 Purchased equipment for cash, $800. 16 Paid the entire amount due to the Strong Company. 18 Received $3,800 from customers on account. 20 Paid $800 to the owner of the building for January’s rent. 30 Paid employees $2,800 for salaries and wages for the month of January. 31 Paid a cash dividend of $1,000 to shareholders.

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