Required information [The following information applies to the questions displayed below.] At January 1 (beginning of its fiscal year), Conover, Inc., a financial services consulting firm, reported the following account balances (in thousands, except for par and market value per share): $ 1,970 Accounts payable 480 Unearned revenue 3,640 Salaries Payable $ 280 1,390 940 220 Short-term note payable 4,790 Common stock ($1 par value) 1,600 Additional paid-in capital (410) Retained earnings 850 120 6,630 Cash Short-term investments Accounts receivable Supplies Office equipment Prepaid expenses Accumulated depreciation-office equipment* 2,080 *This account has a credit balance representing the portion of the cost of the equipment used in the past. a. Received $9,570 cash for consulting services rendered. b. Issued 24 additional shares of common stock at a market price of $155 per share. c. Purchased $710 of office equipment, paying 20 percent in cash and owing the rest on a short- term note. d. Received $960 from clients for consulting services to be performed in the next year. e. Bought $540 of supplies on account. f. Incurred and paid $1,870 in utilities for the current year. g. Consulted for clients in the current year for fees totaling $1,690, due from clients in the next year. h. Received $3,050 from clients paying on their accounts. i. Incurred $6,280 in salaries in the current year, paying $5,370 and owing the rest (to be paid next year). j. Purchased $1,300 in short-term investments and paid $870 for insurance coverage beginning in the next fiscal year. k. Received $45 in interest revenue earned in the current year on short-term investments. Required: 2. Enter the following transactions for the current year into the T-accounts, using the letter of each transaction as the reference. (Enter your answer in thousands, not in dollars. Round your final answer to nearest whole dollar) Cash Short-term Investments Beg. Bal. 1,970 Beg. Bal. (a) 9,570 (c) (b) (f) (d) (i) End. Bal. 0 (h) (k) End. Bal. 9,740 Accounts Receivable Supplies Beg. Bal. 6,560 Beg. Bal. (b) 1,190 End. Bal. 7,750 End. Bal. 0 Prepaid Expenses Office Equipment Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 Accumulated Depreciation Beg. Bal. Beg. Bal. End. Bal. Unearned Revenue Beg. Bal. End. Bal. 0 End. Bal. Accounts Payable Salaries Payable Beg. Bal. 0 End. Bal. Short-term Note Payable Common Stock Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. Additional Paid-in Capital Retained Earnings Beg. Bal. (b) 6,560 1,190 Beg. Bal. 0 0 0 Beg. Bal. Consulting Fees Revenue End. Bal. 0 Beg. Bal. End. Bal. Salaries Expense Beg. Bal. Beg. Bal. Interest Revenue 0 Utilites Expense End. Bal. 0 End. Bal. 0