C4-2 (Algo) From Recording Transactions (Including Adjusting Journal Entries) to Preparing Financial Statements and Closing Journal Entries (Chapters 2, 3, and 4) [LO 2-3, LO 3-3, LO 4-1, LO 4-2, LO 4-3, LO 4.4, LO 4.5, LO 4.6] [The following information applies to the questions displayed below.] 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): 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 $31. 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 $176 on December 8 , including $48 on credit and $128 collected in cash. i. Recognized salaries and wages expense on December 9,$93 paid in cash. j. Collected accounts receivable on December 10,$32. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $8. 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. 0 . Salaries and wages earned but not yet paid or recorded, $11. p. Income tax for the year was $9. It will be paid in 2022