Drs. Glenn Feltham and David Ambrose began operations of theirphysical therapy clinic, called Northland Physical Therapy, onJanuary 1, 2017. The annual reporting period ends December 31. Thetrial balance on January 1, 2018, was as follows (the amounts arerounded to thousands of dollars to simplify):

Account Titles	Debit			Credit
Cash	$	8
Accounts Receivable		4
Supplies		4
Equipment		8
Accumulated Depreciation				$	1
Software		4
Accumulated Amortization					1
Accounts Payable					4
Notes Payable (short-term)					0
Salaries and Wages Payable					0
Interest Payable					0
Income Taxes Payable					0
Deferred Revenue					0
Common Stock					14
Retained Earnings					8
Service Revenue					0
Depreciation Expense		0
Amortization Expense		0
Salaries and Wages Expense		0
Supplies Expense		0
Interest Expense		0
Income Tax Expense		0
Totals	$	28		$	28

Transactions during 2018 (summarized in thousands of dollars)follow:

1. Borrowed $27 cash on July 1, 2018, signing a six-month notepayable.
2. Purchased equipment for $30 cash on July 2, 2018.
3. Issued additional shares of common stock for $4 on July 3.
4. Purchased software on July 4, $4 cash.
5. Purchased supplies on July 5 on account for future use,$6.
6. Recorded revenues on December 6 of $62, including $10 on creditand $52 received in cash.
7. Recognized salaries and wages expense on December 7 of $35;paid in cash.
8. Collected accounts receivable on December 8, $7.
9. Paid accounts payable on December 9, $8.
10. Received a $4 cash deposit on December 10 from a hospital for acontract to start January 5, 2019.

Data for adjusting journal entries on December 31:

11. Amortization for 2018, $1.
12. Supplies of $4 were counted on December 31, 2018.
13. Depreciation for 2018, $2.
14. Accrued interest of $1 on notes payable.
15. Salaries and wages incurred but not yet paid or recorded,$2.
16. Income tax expense for 2018 was $5 and will be paid in2019.

8. Post the closing entry from requirement 7 and prepare apost-closing trial balance.