Brothers Harry and Herman Hausyerday began operations oftheir 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): Account Titles Debit Credit Cash $ 4 Accounts Receivable 4 Supplies 11 Land 9 Equipment 59 Accumulated Depreciation Software 14 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 $ 92 $ 92 M -.i m \"JG'GJGJCDGJU'IU' DGDGGGG 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 2for future building site; paid cash, $7. 6. Issued additional shares of common stock on April 3 for $25. 0'. Purchased software on July 4, $12 cash. e. Purchased supplies on account on October 5 forfuture use, $17. f Paid accounts payable on November 6, $14. gr. Signed a $30 service contract on November 7 to start February 1, 2022. h. Recorded revenues of $158 on December 8, including $39 on credit and $119 collected in cash. i. Recognized salaries and wages expense on December 9, $84 paid in cash. j. Collected accounts receivable on December 10, $23. Interest Payable 0 Income Tax Payable B Common Stock 55 Retained Earnings T Service Revenue Salaries and wages Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense Totals $ 92 $ 92 5395395395: 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 2for future building site; paid cash, $7'. c. Issued additional shares of common stock on April 3 for $25. 0'. Purchased software on July 4, $12 cash. e. Purchased supplies on account on October 5 iorfuture 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 $158 on December 8, including $39 on credit and $119 collected in cash. i. Recognized salaries and wages expense on December 9. $84 paid in cash. j. Collected accounts receivable on December 10, $23. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software. $6. i. Supplies counted on December 31, 2021, $11. m. Depreciation for the year on the equipment. $71 :1. Interest of $2 to accrue on notes payable. 0. Salaries and wages earned but not yet paid or recorded, $12. p. Income tax forthe year was $9. It will be paid in 2022. T accounts. Enter beginning balances and post journal entries from Part 2, the adjusting journal entries from Part 4, and the closing entry from Part 7. (Enter your answers in thousands of dollars.) Cash Accounts Receivable Debit Credit Debit Credit Beginning Balance Beginning Balance 4 (a) 13 7 (b ) (h) 39 23 (j) (c 25 12 (d) (h 119 14 (f) 23 Ending Balance 20 Ending Balance 67 Supplies Land Debit Credit Debit Credit Beginning Balance 11 Beginning Balance 0 (e) 17 17 (0) (b) 7 Ending Balance 11 Ending Balance Equipment Accumulated Depreciation Debit Credit Debit Credit Beginning Balance 59 Beginning Balance (1) Ending Balance 59 Ending Balance 14Required information Software Accumulated Amortization Debit Credit Debit Credit Beginning Balance 14 Beginning Balance 6 12 (d) 6 (0) Ending Balance 26 Ending Balance 12 Accounts Payable Notes Payable (short-term) Debit Credit Debit Credit Beginning Balance 6 Beginning Balance 0 (f ) 14 17 (e) 13 (a) Ending Balance 9 Ending Balance 13 Salaries and Wages Payable Interest Payable Debit Credit Debit Credit Beginning Balance 9 Beginning Balance 0 12 (1) 2 (1) Ending Balance 21 Ending Balance 2 Income Tax Payable Common Stock Debit Credit Debit Credit Beginning Balance 0 Beginning Balance 9 (1) 25 (C) Ending Balance 9 Ending Balance 91! Required information Ending Balance 9 Ending Balance 91 Retained Earnings Service Revenue Debit Credit Debit Credit Beginning Balance 7 Beginning Balance 0 158 (h) Ending Balance 7 Ending Balance 158 Salaries and Wages Expense Depreciation Expense Debit Credit Beginning Balance 0 Beginning Balance 84 12 Ending Balance 96 Ending Balance Amortization Expense Income Tax Expense Debit Credit Debit Credit Beginning Balance Beginning Balance 0 (1) 9 Ending Balance 6 Ending Balance 9 Interest Expense Supplies Expense Debit Credit Debit Credit Beginning Balance Beginning BalanceRequired information Salaries and Wages Expense Depreciation Expense Debit Credit Debit Credit Beginning Balance 0 Beginning Balance 0 84 (1) 12 Ending Balance 96 Ending Balance 7 Amortization Expense Income Tax Expense Debit Credit Debit Credit Beginning Balance 0 Beginning Balance (1) 6 (1) LO Ending Balance 6 Ending Balance 9 Interest Expense Supplies Expense Debit Credit Debit Credit Beginning Balance 0 Beginning Balance 0 (D) 2 (1) 17 Ending Balance 2 Ending Balance 17