Required Informatilon C4-2 From Recording Transactions (Including Adjusting Journal Entries) to Preparing Flnanclal Statements and Closing Journal Entries Chapters 2.3, and 4) [LO 2-3, LO 3-3, LO 4-1, LO 4-2, LO 43, LO 4-4, LO 4-5, LO 4-6] The folowing nformation apawes to the questions dlapiayed below Brathers Hary and Heman Hsuzyerdsy began aperstions of their machlne shop (H&H Tool, Inc.) on Jsnusry 1, 2016. Tha snnual reporting period enda December 3L The trisl balance on January 1, 2018, folawa the smaunts sre rounded to thousanda af dollars to simpltfy: Account Titles Debit Credit $ 3 Accounts Receivable Supplies Land Equipment Accunulated Depreciation 60 15 Accunulated Amortization Accounts Payable Notes Payable (short-tern) Salaries and Wages Payable Interest Payable Incone Tax Payable Cormon Stock Retained Earnings Service Revenue alaries and Wages Expense Depreciation Expense Anortization Expense Incone Tax Expense Interest Expense Supplies Expense Totals 95 $95 Transactions and events during 2018aummsrized in thousands of dollsra) follow . Borrowed $12 cash on March 1 using shortterm note. b Purchssed land on March 2 for future bullding ate: psld caah, $9 c laaued sddlttional ahares of common stock on April 3 for $23. d. Purchssed sowsre on July 4, $10 cssh. e. Purchssed suppliea on account on October 5 for future use, $18. sble on Navember 6, $13. Pald accounts pay Signed a $25 service contract on Navember 7 to stsrt Februsry 1, 2019 Recorded revenues of $160 on December B, Including $40 on credit and $120 collected In cssh. Recognized salarles and wages experse on December 9, $85 psid in cssh Collected accounts recelvable on December 10, $24 Dats for sdjusting Joumal entries ss of December 3t k Unrecorded amortzstion for the year on sofitware, $5 Supplies counted on December 31, 2018, $10 Depreclation for the year on the equlpment, a Interest of $1 to sccrue on notes psysble. a Sslaries and wages eamed but nat yet paid or recorded, $12 Income tax for the year wa $8. It wil be pald In 2019. C4-2 Part 1, 3. 5, and 8 1, 3, 5 and 8. Set up T-sccounts for the accounts on the trisl bsisnce. Enter beginning belances snd poat the trsraactiona a adjusting entriesand closing entry. (Enter your answers in thousands of dollars