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): Credit Debit $ 3 5 12 66 $ 6 21 Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable 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 Totals ooooo 82 8 O O O O O O O $107 $107 Transactions and events during 2018 (summarized in thousands of dollars) follow: a. Borrowed $12 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $9. C. Issued additional shares of common stock on April 3 for $29. d. Purchased software on July 4, $10 cash. e. Purchased supplies on account on October 5 for future use, $18. f. Paid accounts payable on November 6, $13. g. Signed a $25 service contract on November 7 to start February 1, 2019. h. Recorded revenues of $172 on December 8, including $46 on credit and $126 collected in cash. i. Recognized salaries and wages expense on December 9, $91 paid in cash. j. Collected accounts receivable on December 10, $30. 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, $10. m. Depreciation for the year on the equipment, $6. n. Interest of $1 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, $12. p. Income tax for the year was $8. It will be paid in 2019. 1, 3, 5 and 8. Set up T-accounts for the accounts on the trial balance. Enter beginning balances and post the transactions (a)-(j), adjusting entries (k)-(p), and closing entry. (Enter your answers in thousands of dollars.) Cash Accounts Receivable Beg. Bal. 3 Beg. Bal. 5 (a) 12 |(h) 46 29 (0) 30 (c) (h) (0) 9 (b) 10 (d) 13() 91 (i) 126 30 End. Bal. 81 End. Bal. 77 Supplies Land 12 0 Beg. Bal. |(e) (1) Beg. Bal. (b) 18 9 10 End. Bal. 40 End. Bal. 9 Equipment Accumulated Depreciation Beg. Bal. 66 Beg. Bal. 6 6 End. Bal. 66 End. Bal. 12 Software Accumulated Amortization 21 Beg. Bal. 6 Beg. Bal. (d) 10 6(k) End. Bal. 31 End. Bal. 12 Accounts Payable Notes Payable (short-term) 5 Beg. Bal. 0 Beg. Bal. (f) 13 18(e) 12(a) End. Bal. 10 End. Bal. 12 Salaries and Wages Payable Interest Payable Beg. Bal. 0 Beg. Bal. 0 12 (o 1 (n) End. Bal. 12 End. Bal. 1 Income Tax Payable Common Stock Beg. Bal. Beg. Bal. 82 OOO 8 (p) 29(c) End. Bal. 8 End. Bal. 111 Retained Earnings Service Revenue Beg. Bal. 8 Beg. Bal. 0 172 (h) End. Bal. 8 End. Bal. 172 End. Bal. 8 End. Bal. 172 Salaries and Wages Expense Depreciation Expense Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 Amortization Expense Income Tax Expense Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 Interest Expense Supplies Expense Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0