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 TOTALS $ 5,800 s 30,800 90,800 2,800 247,000 18,900 18,090 1e, 000 120,080 ces 262,000 $262,000 The company entered into the following transactions during the year an. 15 Issued 5,000 shares of S1 par comon stock for $50,000 cash. an 31 Collected $3,000 from customers on account Feb. 15 Reacquired 3,000 shares of 53 par conson stock into treasury for $33, 000 cash 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 Declared (but did not yet pay) a 51 cash dividend on each outstanding share of conmon stack. Oct. 1Issued 100, 10-year, $1,000 bonds, at a quoted bond price of 101. Oct. Wrote off $2,000 balance due fron a customer who went bankeupt Dec. 29 Recorded $230,9e0 of service revenue, al2 of which as collected in cash. Dec. 30 Paid $200,000 cash for this year's ages through December 31 Ignore payroll taxes and payrol1 deductions. Dec. 31 Calculated $10,000 of depreciation for the year to be recorded, nore accrual adjustments for interest and ince taxes.) View transaction list Journal entry worksheet 7 10 Prepare a closing journal entry for the income statement accounts, assuming the events on December 29-31 were the only transactions to affect income statement accounts. Record the transaction. Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Prev Journal entry worksheet 7 10 12 1 Prepare the closing entry for Dividends. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal