Prepare the closing journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands of dollars.)

follows (the amounts are rounded to thousands of dollars to simplify): 7 Account Titles Debit Credit Cash $ 4 Accounts Receivable Supplies 11 Land 0 Equipment 53 Accumulated $ 7 Depreciation Software 20 Accumulated Amortization Accounts Payable 6 Notes Payable 0 (short-term) Salaries and Wages 0 Payable Interest Payable 0 Income Tax Payable 0 Common Stock 65 Retained Earnings 7 Service Revenue 0 Salaries and Wages 0 Expense Depreciation Expense 0 Amortization Expense 0 Income Tax Expense 0 Interest Expense 0 Supplies Expense 0 Totals $ 92 $92 Transactions and events during 2018 (summarized in thousands of dollars) follow: a. Borrowed $13 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $7. c. Issued additional shares of common stock on April 3 for $31. d. Purchased software on July 4, $12 cash. e. Purchased supplies on account on October 5 for future use, $17. f. Paid accounts payable on November 6, $14. g. Signed a $30 service contract on November 7 to start February 1, 2019. h. Recorded revenues of $146 on December 8, including $33 on credit and $113 collected in cash. i. Recognized salaries and wages expense on December 9, $78 paid in cash. j. Collected accounts receivable on December 10, $17. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $7. 1. Supplies counted on December 31, 2018, $11. m. Depreciation for the year on the equipment, $7. n. Interest of $2 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, $13. p. Income tax for the year was $9. It will be paid in 2019. Required information (The following information applies to the questions displayed below.] Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows (the amounts are rounded to thousands of dollars to simplify): Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Debit Credit $ 4 4 11 0 53 $ 7 20 7 6 0 0 0 0 65 7 OOC