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The annual reporting period ends December 3 1 . The trial balance on January 1 , 2 0 2 1 , follows ( the amounts
The annual reporting period ends December The trial balance on January follows the amounts are rounded to thousands of dollars to simplify:
Transactions and events during summarized in thousands of dollars follow:
a Borrowed $ cash on March using a shortterm note.
b Purchased land on March for future bullding site: paid cash. $
c Issued additional shares of common stock on April for $
d Purchased software on July $ cash.
e Recelved supplies on account on October for future use. $
Paid accounts payable on November $
g Signed a $ semice contract on November to start February
h Recorded revenues of $ on December Including $ on credit and $ collected in cash.
I. Recognized salarles and wages expense on December $ pald in cash.
J Collected accounts recelvable on December $
Data for adjusting journal entries as of Decenber t:
k Unrecorded amortization for the year on software, $
Supplies counted on December $
Depreciation for the year on the equipment $
Interest of $ to accrue on notes payable
Salarles and wages earned but not yet pald or recorded, $
p Income tax for the year was $ It will be paid in
CAlgo T accounts
Required:
T accounts. Enter beginning balances and post journal entries from Part the adjusting joumal entrles from Part and the closing entry from Part Enter your answers in thousands of dollars.
tableCashDebitCredit,Beginning Ballance,,,Ending Balance,,,
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