Alison and Chuck Renny began operations of their furniture repair shop (Lazy Sofa Furniture, Inc.) on January 1, 2014. The annual reporting period ends December 31. The trial balance on January 1, 2015, appears below (amounts are rounded to thousands of dollars to simplify).

Account Titles	Debit			Credit
Cash	$	4
Accounts Receivable		5
Supplies		3
Equipment		7
Accumulated Depreciation				$	0
Software		11
Accumulated Amortization					4
Accounts Payable					8
Notes Payable (long-term)					0
Salaries and Wages Payable					0
Interest Payable					0
Income Tax Payable					0
Unearned Revenue					0
Common Stock					13
Retained Earnings					5
Service Revenue					0
Supplies Expense		0
Depreciation Expense		0
Salaries and Wages Expense		0
Amortization Expense		0
Interest Expense		0
Income Tax Expense		0
Totals	$	30		$	30

Transactions during 2015 (summarized in thousands of dollars) follow:
1.	Borrowed $22 cash on July 1, 2015, signing a six-month note payable.
2.	Purchased equipment for $19 cash on July 1, 2015.
3.	Issued additional shares of common stock for $4.
4.	Earned revenues for 2015 in the amount of $65, including $8 on credit and $57 received in cash.
5.	Recognized salaries and wages expenses for 2015 of $36, paid in cash.
6.	Purchased additional equipment, $4 cash.
7.	Collected accounts receivable, $7.
8.	Paid accounts payable, $10.
9.	Purchased on account supplies for future use, $9.
10.	Received a $4 cash deposit on work to start January 15, 2016.
Data for adjusting journal entries:
11.	Amortization for 2015, $4.
12.	Supplies of $5 were counted on December 31, 2015.
13.	Depreciation for 2015, $1.
14.	Accrued interest on notes payable of $1.
15.	Wages earned since the December 24 payroll not yet paid, $2.
16.	Income tax for 2015 was $3 and will be paid in 2016.
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