Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows (the amounts are rounded to thousands of dollars to simplify) Debit Credit 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 Taxes Payable Deferred Revenue Common Stock Retained DarningS Service Revenue Depreciation Amortization Expense Salaries and Wages Expense Supplies Expense nterest Dxpense Income Tax Expense 10 16 Expense 0 $26 $26 Totals Transactions during 2018 (summarized in thousands of dollars) follow: a. Borrowed $29 cash on July 1, 2018, signing a six-month note payable b. Purchased equipment for $32 cash on July 2, 2018 c. Issued additional shares of common stock for $6 on July 3 d. Purchased software on July 4, $2 cash. e. Purchased supplies on July 5 on account for future use, $8 f Recorded revenues on December 6 of $63, including $9 on credit and $54 received in cash g. Recognized salaries and wages expense on December 7 of $37; paid in cash. h. Collected accounts receivable on December 8, $8. i. Paid accounts payable on December 9, $9 j. Received a $2 cash deposit on December 10 from a hospital for a contract to start January 5, 2019 Data for adjusting journal entries on December 31 k. Amortization for 2018, $1. Supplies of $2 were counted on December 31, 2018 m. Depreciation for 2018, $3 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 2018 was $3 and will be paid in 2019 1, 3, 5 and 8. Set up T-accounts for the accounts on the trial balance. Enter beginning balances and post the adjusting entries (k)(p), and closing entry. (Enter your answers in thousands of dollars.) Cash Accounts Receivable Beg. Bal Beg. Bal 2 32 (b) 37 (g) 2 (d) 29 54 End. Bal 8 End. Bal 25 Supplies Equipment 10 Beg. Bal Beg. Bal 8 32 10 End. Bal End. Bal 42 Accumulated Depreciation Software Beg. Bal Beg. Bal End. Bal End. Bal Accumulated Amortization Accounts Payable Beg. Bal Beg. Bal End. Bal End. Bal Notes Payable Salaries and Wages Payable Beg. Bal Beg. Bal End. Bal End. Bal Interest Payable Income Taxes Payable Beg. Bal Beg. Bal End. Bal End. Bal Deferred Revenue Common Stock Beg. Bal Beg. Bal End. Bal End. Bal Retained Earnings Service Revenue Beg. Bal Beg. Bal 0 End. Bal End. Bal Depreciation Expense Amortization Expense Beg. Bal Beg. Bal End. Bal End. Bal Sal laries and Wages Expense Supplies Expense Beg. Bal Beg. Bal End. Bal End. Bal Interest Expense Income Tax Expense Beg. Bal Beg. Bal End. Bal End. Bal Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows (the amounts are rounded to thousands of dollars to simplify) Debit Credit 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 Taxes Payable Deferred Revenue Common Stock Retained DarningS Service Revenue Depreciation Amortization Expense Salaries and Wages Expense Supplies Expense nterest Dxpense Income Tax Expense 10 16 Expense 0 $26 $26 Totals Transactions during 2018 (summarized in thousands of dollars) follow: a. Borrowed $29 cash on July 1, 2018, signing a six-month note payable b. Purchased equipment for $32 cash on July 2, 2018 c. Issued additional shares of common stock for $6 on July 3 d. Purchased software on July 4, $2 cash. e. Purchased supplies on July 5 on account for future use, $8 f Recorded revenues on December 6 of $63, including $9 on credit and $54 received in cash g. Recognized salaries and wages expense on December 7 of $37; paid in cash. h. Collected accounts receivable on December 8, $8. i. Paid accounts payable on December 9, $9 j. Received a $2 cash deposit on December 10 from a hospital for a contract to start January 5, 2019 Data for adjusting journal entries on December 31 k. Amortization for 2018, $1. Supplies of $2 were counted on December 31, 2018 m. Depreciation for 2018, $3 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 2018 was $3 and will be paid in 2019 1, 3, 5 and 8. Set up T-accounts for the accounts on the trial balance. Enter beginning balances and post the adjusting entries (k)(p), and closing entry. (Enter your answers in thousands of dollars.) Cash Accounts Receivable Beg. Bal Beg. Bal 2 32 (b) 37 (g) 2 (d) 29 54 End. Bal 8 End. Bal 25 Supplies Equipment 10 Beg. Bal Beg. Bal 8 32 10 End. Bal End. Bal 42 Accumulated Depreciation Software Beg. Bal Beg. Bal End. Bal End. Bal Accumulated Amortization Accounts Payable Beg. Bal Beg. Bal End. Bal End. Bal Notes Payable Salaries and Wages Payable Beg. Bal Beg. Bal End. Bal End. Bal Interest Payable Income Taxes Payable Beg. Bal Beg. Bal End. Bal End. Bal Deferred Revenue Common Stock Beg. Bal Beg. Bal End. Bal End. Bal Retained Earnings Service Revenue Beg. Bal Beg. Bal 0 End. Bal End. Bal Depreciation Expense Amortization Expense Beg. Bal Beg. Bal End. Bal End. Bal Sal laries and Wages Expense Supplies Expense Beg. Bal Beg. Bal End. Bal End. Bal Interest Expense Income Tax Expense Beg. Bal Beg. Bal End. Bal End. Bal