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Record journal entries for transactions ( a ) through ( j ). (If no entry is required for a transaction/event, select No Journal Entry Required
Record journal entries for transactions (a) through (j). (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.)
Transactions and events during 2018 (summarized in thousands of dollars) follow:
a. Borrowed $13 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, $17.
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 $164 on December 8, including $42 on credit and $122 collected in cash.
i. Recognized 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, $11.
p. Income tax for the year was $9. It will be paid in 2019.
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