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Account titles Debit credit Cash $$7$ Account Receivable $3$ supplies $3$ equipment $6$ $$1$ accumulated depreciation$($equipment$)6$ other assets $5$ acounts payable $0$ notes payable $0$ wages payable $0$ income tax payable $0$ deffered revenue $0$ contributed capital $15$ retained earnings $4$ dividends declared $0$ service revenue $0$ depreciation expense $0$ income tax expense $0$ interest expense $0$ operating expenses $0$ totals $$25$ $$25$ Drs$.$ Elaine Newton and Alicia Donland began operation of their physical therapy clinic called Northward Physical Therapy, on January $1,2019.$ The annual reporting period ends December $31.$ A trial balance was created with amounts rounded to the nearest thousand dollars. The trial balance on January $1,2020$ was as follows: a$.$ Borrowed $$22,000$ cash only july $1,2020,$ signing a six$-$month note payable b$.$ purchased equipment for$$ $$25,000$ cash on july $1,2020$ c$.$ Issued additional shares for $$5,000$ d$.$ earned revenues for $2020$ of $$55,000,$ including $$8,000$ on credit and $$47,000$ received in cash e$.$ recognized operating expenses for$$ $$2,000$ of $$30,000,$ including$$ $$5,000$ on credit and $$25,000$ in cash f$.$ purchased other assets $$3,000$ cash g$.$ collected accounts receivable, $$9,000$ h$.$ paid accounts payable, $$10,000$ i$.$ purchased supplies on account for future use, $$7,000$ j$.$ purchased a $$3,000$ deposit from a hospital for a contract to start January $5,2021$ k$.$ declared and paid a cash dividend, $$4,000$ l$.$ supplies of $$3,000$ were counted on Decemeber $31,2020$ m$.$ depreciation for $2020,$ $$4,000$ n$.$ accrued interest on notes payable of $$1,000$ o$.$ wages incurred since the december $27$ payroll not yet paid,$$3,000$ p$.$ income tax expense for $2020$ was $$4,000,$ and will be paid in $20211.$ Record journal entries for transactions $($a$)$ through $($k$)2.$ Prepare T$-$accounts that show opening balances and post transactions $($a$)$ through $($k$)$ to the T$-$accounts $3.$ Prepare an unadjusted trial balance $4.$ Record adjusting journal entries $($l$)$ through $($p$)5.$ Prepare an adjusted trial balance $6.$ Prepare an income statement $7.$ Prepare a statement of retained earnings and a balance sheet

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