American Laser, Inc., reported the following account balances on January 1 Accounts Receivable Accumulated Depreciation Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings Cash Common Stock, 10,000 shares of $1 par Notes Payable (long-term) Retained Earnings Treasury Stock $ 5,000 30,000 90,000 2,000 0 247,000 10,000 10,000 10,000 120,000 0 The company entered into the following transactions during the year Jan. 15 Issued 5,000 shares of $1 par common stock for $50,000 cash Feb. 15 Mar. 15 Reissued 2,000 shares of treasury stock for $24,000 cash Aug. 15 Reissued 600 shares of treasury stock for $4,600 cash Sept. 15 Oct. 1 Issued 100, 10-year, $1,000 bonds, at a quoted bond price of 101 Oct. 3 Wrote off a $500 balance due from a customer who went bankrupt. Reacquired 3,000 shares of $1 par common stock into treasury for $33,000 cash Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock. previous attempt. Post-closing AMERICAN LASER, INC Balance Sheet (partial) At December 31 Assets current Assets Cash Accounts Receivable Allowance for Doubtful Accounts 55,600 4,500 1.500 61,600 Total Current Assets Stockholders Equity Contributed Capital 15,000 105,400 120,400 Common Stock Retained Earnings Total Contributed Capital Total Less. Treasury Stock Total Liabilities and Stockholders Equity 120400 (4,400) 116,000 Trial Balance Redi ttdirt