Required information

C$4-2($Algo$)$ From Recording Transactions $($Including Adjusting Journal Entries$)$ to Preparing Financial

Statements and Closing Journal Entries $($Chapters $2,3,$ and $4)[$LO $2-3,$ LO $3-3,$ LO $4-1,$ LO $4-2,$ LO $4-3,$ LO

$4-4,$ LO $4-5,$ LO $4-6]$

$[$The following information applies to the questions displayed below.$]$

Brothers Harry and Herman Hausyerday began operations of their machine shop $(H$ & H Tool, Incorporated$)$ on January $1,$

$2020.$ The annual reporting period ends Dec rounded to thousands of dollars to simplify$)$:

Transactions and events during $2021($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.$

d$.$ Purchased software on July $4,$ $$12$ cash.

e$.$ Received supplies on account on October $5$ for future use, $$17.$

g$.$ Signed a $$30$ service contract on November $7$ to start February $1,2022$

i$.$ Recognized salaries and wages expense on December $$42$ on credit and $$1$

j$.$ Collected accounts receivable on December $10,$$$26$

Data for adjusting journal entries as of December $31$:

k$.$ Unrecorded amortization for the year on software, $$7$

I. Supplies counted on December $31,2021,$$$11..$ Depreciation for the year on the equipment, $$7.$

n$.$ Interest of $$2$ to accrue on notes payable.

p$.$ Income tax for the year was $$9.$ It will be paid in $2022,$ $$11.$

C$4-2($Algo$)$ T accounts

C$4-2($Algo$)$ T accounts

Required:

T occounts. 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 thousends of dollars.$)$

Ending Balance