$8 4 4 2 5 Required Information The following information applies to the questions displayed below] Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018. was as follows the amounts are rounded to thousands of dollars to simplify): Account Titles Debit Credit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation $2 Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and unges Payable Interest Payable Income Taxes Payable Deferred Revenue Common Stock 14 Retained Earnings Service Revenue Depreciation Expense Amortization Expense Salaries and wages Expense Supplies Expense Interest Expense Income Tax Expense Totats S. 5 0 2 e B 8 e Transactions during 2018 (summarized in thousands of dollars) follow a. Borrowed $18 cash on July 1, 2018, signing a six-month note payable. b. Purchased equipment for $21 cash on July 2, 2018 c. Issued additional shares of common stock for $4 on July 3. d. Purchased software on July 4, $4 cash e. Purchased supplies on July 5 on account for future use. $6. 1. Recorded revenues on December 6 of $53, including $10 on credit and $43 received in cash 9. Recognized salaries and wages expense on December 7 of $26. paid in cash h Collected accounts receivable on December 8, $7. Paid accounts payable on December 9. $8. j. Received a $4 cash deposit on December 10 from a hospital for a contract to start January 5, 2019 Data for adjusting journal entries on December 31 k Amortization for 2018. $2. Supplies of $4 were counted on December 31, 2018. m Depreciation for 2018, 52 n. Accrued interest of $1 on notes payable 10. Salaries and wages incurred but not yet paid or recorded, 54 p. Income tax expense for 2018 was $5 and will be paid in 2019, a 3. Post the journal entries from requirement 2 to Taccounts and prepare an unadjusted trial balance (Enter your answers in thousands of dollars.) Answer is complete but not entirely correct. NORTHLAND PHYSICAL THERAPY Unadjusted Trial Balance For the Year Ended December 31, 2018 in thousands Answer is complete but not entirely correct. X NORTHLAND PHYSICAL THERAPY Unadjusted Trial Balance For the Year Ended December 31, 2018 (in thousands) Account Titles Debit Credit Cash 25 Accounts Receivable 7 Supplies 10 Equipment 25 % Accumulated Depreciation S 1 Software 8 Accumulated Amortization 1 x Accounts Payable 28 Notes Payable (Short-term) Salanes and Wages Payable Interest Payable Income Taxes Payable Deferred Revenue Common Stock 18 Retained Earnings Service Revenue 50 X Salaries and Wages Expense 23 Supplies Expense Depreciation Expense Amortization Expense Interest Expense Income Tax Expense Totals 113 15 % NO