Statements and Closing Journal Entries $($Chapters $2,3,$ and $4)[$LO $2\mathrm{.}3,$ LO $3\mathrm{.}3,$ LO $4-1,$ LO $4\mathrm{.}2,$ LO $4\mathrm{.}3,$ LO

$4-4,$ LO $4-5,[$O $4-6]$

$[$The following Information applies to the questions displayed below.$]$

Brothers Harry and Herman Hausyerday began operations of thelr machine shop $(H$&$H$ Tool, Incorporated$)$ on January $1,$

The annual reporting perlod ends December $31.$ The trlal balance on January $1,2021,$ follows $($the amounts are

rounded to thousands of dollars to simplify$)$:

Transactions and events during $2021($summarized in thousands of dollars$)$ follow:

a$.$ Borrowed $$12$ cash on March $1$ using a short$-$term note.

$b.$ Purchased land on March $2$ for future bullding site; pald cash, $$9.$

c$.$ Issued additional shares of common stock on April $3$ for $$23.$

d$.$ Purchased software on July $4,$ $$10$ cash.

e$.$ Recelved supplies on account on October $5$ for future use, $$18.$

$f.$ Pald accounts payable on November $6,$$$13.$

g$.$ Signed a $$25$ service contract on November $7$ to start February $1,2022.$

h$.$ Recorded revenues of $$178$ on December $8,$ Including $$49$ on credit and $$129$ collected in cash.

I. Recognized salarles and wages expense on December $9,$$$94$ pald in cash.

J$.$ Collected accounts recelvable on December $10,$$$33.$

Data for adjusting journal entrles as of December $31$:

k$.$ Unrecorded amortization for the year on software, $$4.$

I. Supplies counted on December $31,2021,$ $$10.$

$m.$ Depreclation for the year on the equipment, $$6.$

$n.$ Interest of $$1$ to accrue on notes payable.

o$.$ Salarles and wages earned but not yet paid or recorded, $$12.$

p$.$ Income tax for the year was $$8.$ It will be pald in $2022$