The annual feporting period ends December $31.$ The trial balance on January $1,2021,$ follows $($the amounts are rounded to thourands of dollars to simplify:

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

a Borrowed $$11$ cash on March $1$ using a shortterm note.

b$.$ Purchased land on March $2$ for future building siter pald cash. $$8.$

c$.$ Issued additional shares of common stock on Aprit $3$ for $$27.$

d$.$ Purchased software on Luly $4.$ $$11$ cash.

e$.$ Recelved supplles on account on October $5$ for future use. $$19.$

f$.$ Pard accounts payable on November $6,$ $$12$

g$.$ Signed a $$20$ serva contract on November $7$ to start February $1\mathrm{.}2022$

h Recorded revenues of $$168$ on December $8.$ including $$44$ on credit and $$124$ collected in cash.

I Recognized salaries and wages expense on December $9,$ $a$9$ paid in cash.

Collected accounts recervable on December $10.$$$28.$

Data for adjusting journal entries as of December $31.$

$k$ Unrecorded amortization for the year on softare $$4$

I supplies counted on December $31,2021,$$$12$

m$.$ Depreclation for the year on the equrpment $$5.$

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

$0.$ Salares and wages earned but not yet patd or recorded, $$3.$

p$.$ Income tax for the year was $$7.$ It whibe paid in $2022$

$=4\mathrm{.}2($Algo$)$ Part $7$

Required:

Prepare the cosing journal entry $($If no entry is required for a transactionjevent, select $"$No Journal Entry Required" in the first account field. Enter your answer in thousands of dollars$)$

Journal entry worksheet

Recprd entry to dose revenue and expense accounts to netained earnings.