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.)

Post the closing entry and prepare a post-closing trial balance. (Enter your answers in thousands of dollars.)

Required information The following information applies to the questions displayed below Intemational celebrity Jay and Goku began operations of their machine shop (J& G Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows (the amounts are rounded to thousands of dollars to simplify): Account Titles Debit Credit Cash $4 Accounts Receivable 4 Supplies I1 Land Equipment Accumulated depreciation 62 $7 Software 18 Accumulated amortization Accounts payable Notes payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Common Stock Retained carnings Service revenue Salaries and wages expense 7 6 72 7 0 Depreciation expense Amortization expense Income tax expense Interest expense 0 0 Supplies expense 0 Totals $99 $99 Transactions and events during 2018 (summarized in thousands of dollars) follow: A. Borrowed S13 cash on March 1 using a short-term note. B. Purchased land on March 2 for future building site; paid cash, $7. C. Issued additional shares of common stock on April 3 for $25. D. Purchased software on July 4, $12 cash. E. Purchased supplies on account on October 5 for future use, S17. F Paid accounts payable on November 6, $14. G. Signed a $30 service contract on November 7 to start February 1, 2019. H Recorded revenues of S164 on December 8, including $42 on credit and $122 collected in cash IRecognized salaries and wages expense on December 9, $87 paid in cash. J.Collected accounts receivable on December 10, $26. Data for adjusting journal entries as of December 31: K. Unrecorded amortization for the year on software, $7 L. Supplies counted on December 31, 2018, $11. M. Depreciation for the year on the equipment, $7. N. Interest of $2 to accrue on notes payable. O. Salaries and wages earned but not yet paid or recorded, S11 P.Income tax for the year was $9. It will be paid in 2019