Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows the amounts are rounded to thousands of dollars to simplify): Debit Credit Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-ters) Salaries and Wages Payable Interest Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Depreciation Expense kortization Expense Income Tax Expense Interest Expense Supplies Expense Totals Transactions and events during 2018 (summarized in thousands of dollars) follow a Borrowed 511 cash on March 1 using a short-term note b. Purchased land on March 2 for future building site: paid cash, 58 Issued additional shares of common stock on April 3 for $30 d. Purchased software on July 4, 511 cash e. Purchased supplies on account on October 5 for future use. 519 Paid accounts payable on November 6, 512 Signed a 520 service contract on November 7 to start February 1 2019 Recorded revenues of $143 on December 8, including $34 on credit and 5114 collected in Recognized salaries and wages expense on December 9, 579 paid in cash Collected accounts receivable on December 10, $18 Data for adjusting journal entries as of December 31 * Unrecorded amortization for the year on software 56 Supplies counted on December 31, 2018. $12. m. Depreciation for the year on the equipment. $5. interest of $1 to accrue on notes payable Salaries and wages earned but not yet paid or recorded. SIL Income tax for the year was 57 was be paid in 2019 13.5 and Setup Taccounts for the accounts on the balance Enter beging balances and post the transactions ting entries and closing entry Enter your answers in thousands of dollars) Cash Accounts Receivable Beg Bal2 11 30 (c) (d) End Bal End. Bal Supplies Land Bog. Bal Beg Bal End Bal Equipment Accumulated Depreciation Beg Bal Beg Bal End Bal Software Accumulated Amortization Beg Bal Beg Bal End Bal Accounts Payable Notes Payable (short-term) Beg Bal Beg. Bal End Bal Salaries and Wages Payable Beg Ball Beg Bal End Bal Income Tax Payable Required information Salaries and Wages Payable Interest Payable Bog Bal Beg Bal End. Bal End Bal Income Tax Payable Common Stock of Beg Bal Beg Bal 72 End. Bal End. Bal Retained Earnings Service Revenue Beg Bal Beg Bal End Bal End Bal 143 Depreciation Expense Salaries and Wages Expense Beg Balo 100 7 9 Beg Bal End. Bal 0 End. Bal 0 Amortization Expense Income Tax Expense Beg Bal Beg Bal End Bal End. Bal Interest Expense Supplies Expense Beg Bal Beg Bal End, Bal End. Bal 0 Brothers Harry and Herman Hausyerday began operations of their machine shop H & H Tool on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows the course rounded to thousands of dollars to simplify: Debit Credit Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable lotes Payable (short-term) Salaries and Wages Payable Interest Payable Incos Tax Payable Common stock Retained Earnings Service Revenue Salaries and wages Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense Totals Transactions and events during 2018 (summarized in thousands of dollars) follow: a. Borrowed 511 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 $30. d. Purchased software on July 4, 511 cash e. Purchased supplies on account on October 5 for future use. $19 Paid accounts payable on November 6, 512 g. Signed a $20 service contract on November 7 to start February 1 2019 h. Recorded revenues of $148 on December 8, including 534 on credit and 5114 collected in cash Recognized salaries and wages expense on December 9. $79 paid in cash J. Collected accounts receivable on December 10, 518 Data for adjusting journal entries as of December 31 k Unrecorded amortization for the year on software. $6. 1. Supplies counted on December 31, 2018. $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, $11. p. Income tax for the year was 57. It will be paid in 2019 C4-2 Part 7 transaction event, select "No Journal Entry Required in the firs 7. Prepare the closing journal entry one entry is required for account field. Enter your answers in thousands of dollars.) o. Salaries and wages earned but not yet paid or recordea, SIA p. Income tax for the year was $7. It will be paid in 2019. C4-2 Part 7 7. Prepare the closing journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Req account field. Enter your answers in thousands of dollars.) View transaction list Journal entry worksheet Record entry to close revenue and expense accounts to retained earnings. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal