Check my work Required information The following Information applies to the questions displayed below! Brothers Harry and Herman Housyerday began operations of their machine shop & 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 simplity Debit $3 CE 12 Account Cash Accounts Receivable Supplies Land Count Accultad Depreciation Software Accumulated artitation Ants Payable Mat Payable (thartture) Salaries and Wes Payable Interest Payable WA Icetas Payabile G tined farming ve Salari. Wapest Depreciation pense notitie Expense Income Tax Interest Supplies Service Totats $94 $$ 089 0620 ok ence Transactions and events during 2021 (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 for $32 d. Purchased software on July 4, $10 cash e Purchased supplies on account on October 5 for future use. 518 { Pald accounts payable on November 6, $13. g. Signed a $25 service contract on November 7 to start February 1, 2022 h Recorded revenues of $144 on December 8, including $32 on credit and $112 collected in cash Recognized salaries and wages expense on December 9. STI paid in cash Collected accounts receivable on December 10, $16. Data for adjusting journal entries as of December 31 Unrecorded amortization for the year on software. $8. Supplies counted on December 31, 2021 $10. m. Depreciation for the year on the equipment $6. n. Interest of $1 to accrue on notes payable. 0. Salaries and wages earned but not yet paid or recorded $12 p. Income tax for the year was $8. It will be paid in 2022 Required: . 14. Required information Required: 7. Prepare the closing journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands of dollars.) View transaction ist View journal entry worksheet No Transaction 1 Debit Credit 144 General Journal Service Revenue Salaries and Wages Expense Amortization Expense Supplies Expense Equipment Interest Expense Income Tax Expense 132