Accounts Receivable Accumulated Depreciation Additional Paid-in Capital Allowance for Doubtful Accounts Debit $ 5,000 Credit $ 30,000 120,000 2,000 Bonds Payable 0 Buildings 277,000 Cash 17,500 Common Stock, 10,000 shares of $1 par 10,000 Notes Payable (long-term) Retained Earnings 17,500 120,000 Treasury Stock TOTALS 0 $ 299,500 $ 299,500 The company entered into the following transactions during the year. January 15 Issued 20,000 shares of $1 par common stock for $80,000 cash. January 31 Collected $3,000 from customers on account. February 15 Reacquired 3,300 shares of $1 par common stock into treasury for $36,300 cash. March 15 Reissued 2,300 shares of treasury stock for $27,300 cash. August 15 Reissued 600 shares of treasury stock for $4,600 cash. September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock. October 1 Issued 100, 10-year, $1,160 bonds, at a quoted bond price of 101. October 3 Wrote off a $1,500 balance due from a customer who went bankrupt. December 29 Recorded $260,000 of service revenue, all of which was collected in cash. December 30 Paid $230,000 cash for this year's wages through December 31. (Ignore payroll taxes and payroll deductions.) December 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and income taxes.) Requirement General Journal General Ledger Debt to Assets Trial Balance Balance Sheet Ratio Prepare the journal entries to record each transaction. Review the accounts as shown in the General Ledger and Trial Balance tabs. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No 1 Date January 15 General Journal Cash Debit Credit 80,000 Common Stock Additional Paid-In Capital, Common Stock 20,000 60,000 7 2 January 31 Cash 3,000 Accounts Receivable 3,000 3 February 15 Treasury Stock 36,300 Cash 36,300 4 March 15 Cashi 27,300