Check my w Journai entry worksneet 1 10 11 12 13 14 15 16 17 Record the necessary closing entry. Combine the closing of revenue and expenses into one entry. Note: Enter its before credits. Date Dec 31, 2018 General Journal Debit Credit Income Tax Expense Income Tax Payable 8 8 Record entry Clear entry View general journal 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' $23. 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 $178 on December 8, including $49 on credit and $129 collected in cash. 1. Recognized salaries and wages expense on December 9, $94 paid in cash. j. Collected accounts receivable on December 10, $33. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $4. 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. DI Uldis LU Spiny). Credit Debit $ 3 5 12 0 69 $ 6 24 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 4 5 0 0 0 0 90 8 0 0 0 0 0 0 0 $113 $113