Practice Set (MP) Brothers Harry and Herman Hausyerday began operations of their machine shop (H& H Tool, Inc.)on January 1, 2013. The annual reporting perlod ends December 31. The trial balance on January 1,2015, follows the amounts are rounded to thousands of dollars to simplifty $ 2 Accounts Recelvable Supplies Equipmemt Accumulated Depreclation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salarles and Wages Payable Interest Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Depreclation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense $ 5 24 0 74 0 0 0 Totals $96 $96 Transactions during 2015 (summarized in thousands of dollars) follow 1. Borrowed $11 cash on a six-month note payable dated March 1, 2015. 2. Purchased land for future building site; paid cash, $8. 3. Earned revenues for 2015, $142, including $31 on credit and $111 collected in cash. 4. Issued additional shares of stock for $4 5. Recognized salaries and wages expense for 2015, $76 paid in cash 6. Collected accounts receivable, $15. 7 Purchased software, $11 cash. 8. Paid accounts payable, $12. 9. Purchased supplies on account for future use, $19. 10. Signed a $20 service contract to start February 1, 2016 Vi 15 MacBook Air