Required information Skip to question The following information applies to the questions displayed below Brothers Harry and Herman Hausyerday began operations of their machine shop (H H 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 $ 2 Accounts Receivable 6 Supplies 13 Land 0 Equipment 61 Accumulated Depreciation $ 5 Software 15 Accumulated Amortization 6 Accounts Payable 4 Notes Payable (short term) 0 Salaries and Wages Payable 0 Interest Payable 0 Income Tax Payable 0 Common Stock 73 Retained Earnings 9 Service Revenue 0 Salaries and Wages Expense 0 Depreciation Expense 0 Amortization Expense 0 Income Tax Expense 0 Interest Expense 0 Supplies Expense 0 Totals $ 97 $ 97 Transactions and events during 2018 (summarized in thousands of dollars) follow Borrowed $11 cash on March 1 using a short term note Purchased land on March 2 for future building site paid cash, $8 Issued additional shares of common stock on April 3 for $24 Purchased software on July 4, $11 cash Purchased supplies on account on October 5 for future use, $19 Paid accounts payable on November 6, $12 Signed a $20 service contract on November 7 to start February 1, 2019 Recorded revenues of $162 on December 8, including $41 on credit and $121 collected in cash Recognized salaries and wages expense on December 9, $86 paid in cash Collected accounts receivable on December 10, $25 Data for adjusting journal entries as of December 31 Unrecorded amortization for the year on software, $6 Supplies counted on December 31, 2018, $12 Depreciation for the year on the equipment, $5 Interest of $1 to accrue on notes payable Salaries and wages earned but not yet paid or recorded, $13 Income tax for the year was $7 It will be paid in 2019 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 )

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Required information Skip to question [The following information applies to the questions displayed below.] Brothers Harry and Herman Hausyerday began operations of their machine shop

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[The following information applies to the questions displayed below.] Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H 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	$	2
Accounts Receivable		6
Supplies		13
Land		0
Equipment		61
Accumulated Depreciation			$	5
Software		15
Accumulated Amortization				6
Accounts Payable				4
Notes Payable (short-term)				0
Salaries and Wages Payable				0
Interest Payable				0
Income Tax Payable				0
Common Stock				73
Retained Earnings				9
Service Revenue		0
Salaries and Wages Expense		0
Depreciation Expense		0
Amortization Expense		0
Income Tax Expense		0
Interest Expense		0
Supplies Expense		0
Totals	$	97	$	97

Transactions and events during 2018 (summarized in thousands of dollars) follow:

Borrowed $11 cash on March 1 using a short-term note.
Purchased land on March 2 for future building site; paid cash, $8.
Issued additional shares of common stock on April 3 for $24.
Purchased software on July 4, $11 cash.
Purchased supplies on account on October 5 for future use, $19.
Paid accounts payable on November 6, $12.
Signed a $20 service contract on November 7 to start February 1, 2019.
Recorded revenues of $162 on December 8, including $41 on credit and $121 collected in cash.
Recognized salaries and wages expense on December 9, $86 paid in cash.
Collected accounts receivable on December 10, $25.

Data for adjusting journal entries as of December 31:

Unrecorded amortization for the year on software, $6.
Supplies counted on December 31, 2018, $12.
Depreciation for the year on the equipment, $5.
Interest of $1 to accrue on notes payable.
Salaries and wages earned but not yet paid or recorded, $13.
Income tax for the year was $7. It will be paid in 2019.

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.)