Account Titles Debit Credit Cash Accounts receivable Supplies Land Equipment Accumulated depreciation (on equipment) Other assets (not detailed to simplify) Accounts payable Wages payable Interest payable Income taxes payable 6,000 5,000 13,000 78,000 8,000 7,000 term notes payable Common stock (8,000 shares, $0.50 par value) Additional paid-in capital Retained carnings Service revenue Depreciation ex Supplies expense Wages expense Interest expense Income tax expense Remaining expenses (not detailed to simplify) 4,000 80,000 17,000 109.000 109,000 Transactions during 2015 follow: a. Borrowed $15,000 cash on a five-year, 8 percent note payable, dated March 1, 2015 b. Purchased land for a future building site; paid cash, $13,000. c. Earned $215,000 in revenues for 2015, including $52,000 on credit and the rest in cash. d. Sold 4,000 additional shares of capital stock for cash at $I market value per share on January 1, 2015 e. Incurred S114,000 in Remaining Expenses for 2015, including $20,000 on credit and the rest paid in cash. f Collected accounts receivable, $34,000. g. Purchased other assets, $15,000 cash. h. Purchased supplies on account for future use, $27,000. i. Paid accounts payable, $26,000. j. Signed a three-year $33,000 service contract to start February 1, 2016. k. Declared and paid cash dividends, $25,000. Data for adjusting entries: L Supplies counted on December 31, 2015, $18,000. m. Depreciation for the year on the equipment, $10,000. n. Interest accrued on notes payable (to be computed). o. Wages earned by employees since the December 24 payroll but not yet paid, $16,000 p. Income tax expense, $11,000. payable in 2016. Required I. Set up T-accounts for the accounts on the trial balance and enter beginning balances. 2. Prepare journal entries for transactions (a) through (k) and post them to the T-accounts. 3. Journalize and post the adjusting entries () through (p)