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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

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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 $22 cash on July 1,2021 , signing a six-month note payable. b. Purchased equipment for $25 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. Purchased supplies on July 5 on account for future use, $7. f. Recorded revenues on December 6 of $55, including $8 on credit and $47 received in cash. g. Recognized salaries and wages expense on December 7 of $30; 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 5,2022. Data for adjusting journal entries on December 31 : k. Amortization for 2021,$1. 1. Supplies of $3 were counted on December 31,2021. m. Depreciation for 2021,$4 n. Accrued interest of $1 on notes payable. 0 . Salaries and wages incurred but not yet paid or recorded, $3. p. Income tax expense for 2021 was $4 and will be paid in 2022 . Journal entry worksheet 256789 Record the borrowing of cash on July 1, 2021, signing a six-month note payable. Note: Enter debits before credits. Journal entry worksheet Record the purchase of equipment for $25 cash on July 2,2021. Note: Enter debits before credits. Journal entry worksheet Record the issuance of additional shares of common stock for $5. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the purchase of supplies on account for future use, $7. Note: Enter debits before credits. Journal entry worksheet Record the entry for revenues of $55, including $8 on credit and $47 recelved in cash. Note: Enter debits before credits. Journal entry worksheet 1Recordsalariesandwagesexpenseof$30,paidincash.456 Note: Enter debits before credits. Journal entry worksheet 56 Record the collection of accounts receivable, $9. Note: Enter debits before credits. Journal entry worksheet Record the payment of accounts payable, $10. Note: Enter debits before credits. Journal entry worksheet

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