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Required information The following information applies to the questions displayed below Brothers Harry and Herman Houbyerday began operations of their machine shop & H Tooling) on January 2016. The annual reporting period endis December 3. The trial balance on January 2018 follows the amounts are rounded to thousands of dollars to simply Lanta RSS Transactions and events during 2018 summarized in thousands of dollars) follow a Borrowed $11 cash on March 1 using a short-term note. b. Purchased and on March 2 for future building site; paid cash. $e. c.Issued additional shares of common stock on April 3 for $24 d. Purchased software on July 4, $11 cash. e Purchased supplies on account on October 5 for future use, $19. Pald accounts payable on November 6, $12 g. Signed a $20 service contract on November 7 to start February 1, 2019 h. Recorded revenues of $190 on December 8, including $50 on credit and $130 collected in cash Recognized salaries and wages expense on December 9, S95 pa din cash Collected accounts receivable on December 10, $34 Data for adjusting journal entries as of December 31 Unrecorded amortization for the year on software, SS. Supplies counted on December 31 2018. $12 Depreciation for the year on the equipment. $S. interest of Sito sccrue on notes payable a: Salaries and wages earned but not yet paid or recorded. $16 p. Income tax for the year was $7. It will be paid in 2019 7. Prepare the closing journal entry. If no entry is required for a transaction event, select "No Journal Entry Required in the first Bccount field. Enter your answers in thousands of dollars.) Journal entry worksheet Record entry to close revenue and expense accounts to retained earnings Net Enter debit before eredia Transaction General Journal Debit Credit Record entry

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