Torche Corporation Balance Sheet As of January 3, 2018 (amounts in thousands) 14,700 Accounts Payable Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets 2,400 3,700 5,000 11,100 6,000 22,900 28,900 40,000 4,800 Debt 3,800 Other Liabilities 15,800 Total Liabilities 900 Paid-In Capital Retained Earnings Total Equity Total Assets 40,000 Total Liabilities & Equity Transfer the journal entries to T-accounts for the transactions below, compute closing amounts for the T-accounts, and construct a final balance sheet to answer the question. Journal amounts in thousands Date Account and Explanation Debit Credit Jan 4Cash 12 Accounts Receivable 12 Received customer payment Jan 5Cash 15 Inventory 12