1 Part 1 of 9 10 points 8 02:36:29 ! Required information C4-2 (Algo) From Recording Transactions (Including Adjusting Journal Entries) to Preparing Financial Statements and Closing Journal Entries (Chapters 2, 3, and 4) [LO 2-3, LO 3-3, LO 4-1, LO 4-2, LO 4-3, LO 4-4, LO 4-5, LO 4-6] [The following information applies to the questions displayed below.] Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Incorporated) on January 1, 2020. The annual reporting period ends December 31. The trial balance on January 1, 2021, follows (the amounts are rounded to thousands of dollars to simplify): eBook Print References Land Account Titles Cash Accounts Receivable Supplies Equipment 70 Accumulated Depreciation Software 15 63005 Debit Credit $ 2 13 $ 5 Accumulated Amortization 5 Accounts Payable 4 Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense ooooooo 0 83 9 1 Part 1 of 9 10 points 02:35:53 eBook Print References Supplies Expense Totals $ 106 $ 106 Transactions and events during 2021 (summarized in thousands of dollars) follow: a. Borrowed $11 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $8. c. Issued additional shares of common stock on April 3 for $24. d. Purchased software on July 4, $11 cash. e. Purchased supplies on account on October 5 for future use, $19. f. Paid accounts payable on November 6, $12. g. Signed a $20 service contract on November 7 to start February 1, 2022. h. Recorded revenues of $180 on December 8, including $50 on credit and $130 collected in cash. i. Recognized salaries and wages expense on December 9, $95 paid in cash. j. Collected accounts receivable on December 10, $34. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $5. 1. Supplies counted on December 31, 2021, $12. m. Depreciation for the year on the equipment, $5. n. Interest of $1 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, $13. p. Income tax for the year was $7. It will be paid in 2022. C4-2 (Algo) Part 2 1 Part 1 of 9 10 points 02:35:17 Required information Journal entry worksheet < 1 2 3 4 5 6 7 8 9 10 > Record accounts receivable collected on December 10, $34. eBook Note: Enter debits before credits. Print References Transaction General Journal Debit Credit j. Cash 34 Accounts Receivable 34 Record entry Clear entry View general journal