Drs$.$ Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called

Northland Physical Therapy, on January $1,2020.$ The annual reporting period ends December $31.$

The trial balance on January $1,2021,$ was as follows $($the amounts are rounded to thousands of

dollars to simplify$)$:

Transactions during $2021($summarized in thousands of dollars$)$ follow:

a$.$ Borrowed $$17$ cash on July $1,2021,$ signing a six$-$month note payable.

b$.$ Purchased equipment for $$20$ cash on July $2,2021.$

c$.$ Issued additional shares of common stock for $$5$ on July $3.$

d$.$ Purchased software on July $4,$ $$3$ cash.

e$.$ Received supplies on July $5$ on account for future use, $$7.$

f$.$ Recorded revenues on December $6$ of $$50,$ including $$8$ on credit and $$42$ received in cash.

g$.$ Recognized salaries and wages expense on December $7$ of $$25$; paid in cash.

h$.$ Collected accounts receivable on December $8,$$$9.$

i$.$ Paid accounts payable on December $9,$$$10.$

j$.$ Received a $$3$ cash deposit on December $10$ from a hospital for a contract to start January $5,$

Data for adjusting journal entries on December $31$:

k$.$ Amortization for $2021,$$$1.$

Supplies of $$3$ were counted on December $31,2021.$

m$.$ Depreciation for $2021,$ $$4.$

n$.$ Accrued interest of $$1$ on notes payable.

o$.$ Salaries and wages incurred but not yet paid or recorded, $$4.$

p$.$ Income tax expense for $2021$ was $$4$ and will be paid in $2022.$

equired:

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.$)$