Required information The following information applies to the questions displayed below] Drs. Gienn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2020. The annual reporting period ends December 31 . The trial balance on January 1, 2021, was as follows the amounts are rounded to thousands of dollars to simplify: Transactions during 2021 (summarized in thousands of dollars) follow: a. Borrowed $22 cash on July 1,2021 , signing a six.month note payable. b. Purchased equipment for $25 cash on July 2,2021 c. issued additional shares of common stock for $5 on July 3. d. Purchased software on July 4,$3 cash. e. Purchased supplies on July 5 on account for future use. $7. C Recorded revenues on December 6 of $55, including $8 on credit and $47 recelved in cash. g. Recognized salarles and wages exponse on December 7 of 530 ; paid in cash. h. Collected accounts receivable on December 8,$9. 1. Paid accounts payable on December 9.510. l Received a $3 cash deposit on December to from a hosplat for a contract to start January 5, 2022. Date for odjusting joumal entries on December 31: k. Amortization for 2021,51 . 1. Supplies of $3 were counted on December 31,2021. mi. Depreciation for 2021,54 . n. Accrued interest of $1 on notes payable. a. Salaries and wages incurred but not yet paid or recorded, 53. p. income tax expense for 2021 was $4 and will be paid in 2022 . 7. Prepere the closing journal entry af no entry is required for a transaction/event, seiect "No Journat Entry Required" in the first accolat field. Enter your answers in thousands of dollars.) Journal entry worksheet a. Borrowed 522 cash on July 12021 , sloning a sk-month note posyable. b. Purchased equipment for 525 cash on July 2,2021 . Q. Purchased sofwire on July 4,53 cash. e. Puirchased supplies on July 5 on accounit for future use, $7. CRecorded revenues on December 6 of $55, inchuding $8 on credt and $47 recelved in cash. e. Recoonired solnites and woges expense on December 7 of 330 ; paid in cash. h. Collected occounts recelvable on December 8, $9. i Paid accounts payable an December 9,510 . f. Recelved a $3 cash depost on December to from a haspital for a contract to start January 5,2022. Deta for adjusting foumat entries on December 31 K. Amortization for 2021.51 1. Supplies of $3 were counted on Docember 31,2021. in. Deprecietion for 2021, $4. n Accrued interest of $1 on notes payable. e. Salaries and woges incurred but not yet poid or recorded, $3. p. hcome tax expense for 2021 was $4 and will be paid in 2022. 7. Prepare the closing journal entry. (ff 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, Journal entry worksheet Record entry to close revenue and expense accounts to retained earnings. Note: Enter debits before crests a. Borrowed $22 cash on July 1,2021 , sioning a sik-month note payble. b. Purchased equipment for 525 cash on July 2,2021 . c. bsued additional shares of common stock for 55 on July 3. d. Purchased sottware on July 4,53 cash. e. Purchesed supplies on July 5 on account for future use, 57 Recorded revenues on December 6 of 555 , including 58 on credit and 347 recielved in cash 9. Recognized salarles and wages expense on December 7 of 330 , pald in cash. h. Collected occounts receivable on December 8,$9. i Paid accounts paybale on December 9,510 1. Recelved a $3 cash deposit on December to from a hospital for a contract to start January 5, 2022. Dath for adjusting joumal entries on December 3t k. Amortization for 2021, 51. L. Supplies of $3 were counted on December 31, 2021. m. Depreciation for 2021,$4. n. Accrued interest of \$1 on notes payable. a. Salarles and wages incurred but not yet paid or recorded, $3. a. Income tax expense for 2021 was $4 and will be paid in 2022. 7. 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.) Journal entry worksheet