Transactions and events during $2024($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$.$ Received supplies on account on October $5$ for future use, $$17.$

$f.$ Paid accounts payable on November $6,$$$14.$

g$.$ Signed a contract on November $7$ to provide $$30$ of services starting February $1,2025.$

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.$

I. Supplies counted on December $31,2024,$ $$11.$

$m.$ Depreciation for the year on the equipment, $$7.$

$n.$ Interest of $$2$ on notes payable is yet to be recorded.

o$.$ Salaries and wages earned but not yet paid or recorded, $$13.$

p$.$ Income tax for the year was determined to be $$9.$ It will be paid in $2025.$

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

Required:

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 $7.$

Note: Enter your answers in thousands of dollars.How to solve

Transactions and events during $2024($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$.$ Received supplies on account on October $5$ for future use, $$17.$

$f.$ Paid accounts payable on November $6,$$$14.$

g$.$ Signed a contract on November $7$ to provide $$30$ of services starting February $1,2025.$

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.$

I. Supplies counted on December $31,2024,$ $$11.$

$m.$ Depreciation for the year on the equipment, $$7.$

$n.$ Interest of $$2$ on notes payable is yet to be recorded.

o$.$ Salaries and wages earned but not yet paid or recorded, $$13.$

p$.$ Income tax for the year was determined to be $$9.$ It will be paid in $2025.$

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

Required:

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 $7.$

Note: Enter your answers in thousands of dollars.