Alison and Chuck Renny began operations of their furniture repair shop $($Lazy Sofa Furniture, Incorporated$)$ on January $1,2020.$ The annual reporting period ends December $31.$ The trial balance on January $1,2021,$ follows $($amounts are rounded to thousands of dollars to simplify$).$

Account Titles Debit Credit

Cash $ $5$

Accounts Receivable $4$

Supplies $1$

Equipment $6$

Accumulated Depreciation $ $0$

Software $12$

Accumulated Amortization $5$

Accounts Payable $7$

Notes Payable $($short$-$term$)0$

Salaries and Wages Payable $0$

Interest Payable $0$

Income Tax Payable $0$

Deferred Revenue $0$

Common Stock $12$

Retained Earnings $4$

Service Revenue $0$

Supplies Expense $0$

Depreciation Expense $0$

Salaries and Wages Expense $0$

Amortization Expense $0$

Interest Expense $0$

Income Tax Expense $0$

Totals $ $28$ $ $28$

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

Borrowed $$26$ cash on July $1,2021,$ signing a six$-$month note payable.

Purchased equipment for $$23$ cash on July $2.$

Issued additional shares of common stock on July $3$ for $$6.$

Purchased additional equipment on August $4,$ $$2$ cash.

Received supplies on account on supplies on September $5$ for future use, $$8.$

On December $6,$ recorded revenues in the amount of $$68,$ including $$7$ on credit and $$61$ received in cash.

Paid salaries and wages expenses on December $7,$ $$40.$

Collected accounts receivable on December $8,$ $$9.$

Paid accounts payable on December $9,$ $$12.$

Received a $$5$ deposit on December $10$ for work to start January $15,2022.$

Amortization for $2021,$ $$5.$

Supplies of $$6$ were counted on December $31,2021.$

Depreciation for $2021,$ $$3.$

Accrued interest on notes payable of $$1.$

Salaries and wages earned but not yet paid, $$4.$

Income tax for $2021$ was $$2$ and will be paid in $2022.$

T accounts. Enter beginning balances and post journal entries from Part $2,$ the adjusting journal entries from Part $4,$ and the closing entry from Part $7.($Enter your answers in thousands of dollars.$)$