C4-4 From Recording Transactions (Including Adjusting Journal Entries) to Preparing Financial Statements and 206 Closing Journal Entries Chapters 2, 3, and 4 Alison and Chuck Renny began operations of their furniture repair shop (Lazy Sofa Furniture. Inc.) on January 1, 2020. The anal reporting period ends December 31. The trial balance on January 1, 2021, follows (amounts are rounded to thousands of dollars to simplify). Account Titles Cash Accounts Receivable. Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Supplies Expense Depreciation Expense Salaries and Wages Expense Amortization Expense Interest Expense Income Tax Expense. Totals Debit Credit $5 4 2 6 50 12 0 7 0 0 0 0 15 4 0 0 0 0 $29 $29