Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Incorporated) on January 1, 2020. The annual reporting period ends December 31. The trial balance on January 1, 2021, follows the amounts are rounded to thousands of dollars to simplify): Credit Account Titles Cash Accounts Receivable Debit $ 4 Supplies Equipment Land 11 0 50 $ 7 23 5 6 0 0 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 0 67 7 0 $ 92 $ 92 Transactions and events during 2021 (summarized in thousands of dollars) follow: a. Borrowed $13 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $7. c. Issued additional shares of common stock on April 3 for $34. d. Purchased software on July 4, $12 cash. e. Purchased supplies on account on October 5 for future use, $17. f. Paid accounts payable on November 6, $14. g. Signed a $30 service contract on November 7 to start February 1, 2022. h. Recorded revenues of $140 on December 8, including $30 on credit and $110 collected in cash. i. Recognized salaries and wages expense on December 9, $75 paid in cash. j. Collected accounts receivable on December 10, $14. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $5. 1. Supplies counted on December 31, 2021, $11. m. Depreciation for the year on the equipment, $7. n. Interest of $2 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, $13. p. Income tax for the year was $9. It will be paid in 2022. Cash Accounts Receivable Debit Debit Credit Credit Beginning Balance Beginning Balance Ending Balance Ending Balance Supplies Land Credit Debit Credit Debit Beginning Balance Beginning Balance Ending Balance Ending Balance Equipment Credit Debit Beginning Balance Accumulated Depreciation Debit Credit Beginning Balance Ending Balance Ending Balance Software Debit Credit Accumulated Amortization Debit Credit Beginning Balance Beginning Balance Ending Balance Ending Balance Accounts Payable Credit Debit Beginning Balance Notes Payable (short-term) Debit Credit Beginning Balance Interest Payable Salaries and Wages Payable Debit Credit Beginning Balance Credit Debit Beginning Balance Ending Balance Ending Balance Common Stock Income Tax Payable Debit Beginning Balance Credit Credit Debit Beginning Balance Ending Balance Ending Balance Retained Earnings Service Revenue Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Depreciation Expense Salaries and Wages Expense Debit Credit Beginning Balance Debit Credit Beginning Balance Ending Balance Ending Balance Amortization Expense Debit Beginning Balance Credit Income Tax Expense Debit Beginning Balance Credit Ending Balance Ending Balance Interest Expense Supplies Expense Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Ending Balance