Account Titles Debit Credit $ 6 Cash Accounts Receivable 2 Supplies Equipment Accumulated Depreciation Software $ 1 6 Accumulated Amortization 1 Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Taxes Payable 5 Deferred Revenue Common Stock Retained Earnings 5 Service Revenue 0 Depreciation Expense Amortization Expense Salaries and Wages Expense Supplies Expense Interest Expense Income Tax Expense 0 0 0 0 0 0 $24 $24 Totals L O O OO ONnO Transactions during 2018 (summarized in thousands of dollars) follow: a. Borrowed $32 cash on July 1, 2018, signing a six-month note payable. b. Purchased equipment for $35 cash on July 2, 2018 c. Issued additional shares of common stock for $6 on July 3. d. Purchased software on July 4, $2 cash e. Purchased supplies on July 5 on account for future use, $8 f. Recorded revenues on December 6 of $66, including $9 on credit and $57 received in cash g. Recognized salaries and wages expense on December 7 of $40; paid in cash. h. Collected accounts receivable on December 8, $8 i. Paid accounts payable on December 9, $9. j. Received a $2 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, $1. Supplies of $2 were counted on December 31, 2018. m. Depreciation for 2018, $3 n. Accrued interest of $1 on notes payable. o. Salaries and wages incurred but not yet paid or recorded, $4 p. Income tax expense for 2018 was $3 and will be paid in 2019. Journal entry worksheet 6 1 2 3 5 Record the adjusting entry for amortization for 2018, $1. Note: Enter debits before credits. Transaction General Journal Debit Credit k. Journal entry worksheet 6 1 2 3 5 Record the adjusting entry for supplies counted on December 31, 2018 for $2. Note: Enter debits before credits. Transaction General Journal Debit Credit Journal entry worksheet 2 3 1 4 5 6 Record the adjusting entry for depreciation for 2018, $3. Note: Enter debits before credits Transaction General Journal Debit Credit m. LO m Journal entry worksheet 2 6 1 3 4 5 Record the adjusting entry for accured interest for $1 on notes payable Note: Enter debits before credits Transaction General Journal Debit Credit n. Journal entry worksheet 2 6 1 3 4 5 Record the adjusting entry for salaries and wages earned but not paid for $4 Note: Enter debits before credits Transaction General Journal Debit Credit O. IC st Journal entry worksheet 2 1 4 5 6 Record the adjusting entry for income tax expense for 2018 for $3 that will be paid in 2019. Note: Enter debits before credits. Transaction General Journal Debit Credit p. (C (in thousands) Account Titles Debit Credit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Supplies Expense Depreciation Expense Amortization Expense Interest Expense Income Tax Expense Totals
