American Laser, Inc., reported the following account balances on January 1 Debit $ 5,000 Credit 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 30,000 100,000 2,000 257,000 12,500 10,000 12,500 120,000 $274,500 $274,500 The company entered into the following transactions during the year. Jan. 15 Issued 10,000 shares of $1 par common stock for $60,000 cash. Jan. 31 Collected $3,000 from customers on account. Feb. 15 Reacquired 3,100 shares of $1 par common stock into treasury for $34,100 cash. Mar. 15 Reissued 2,100 shares of treasury stock for $25,100 cash. Aug. 15 Reissued 600 shares of treasury stock for $4,600 cash. Sept. 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock. Oct. 1 Issued 100, 10-year, $1,010 bonds, at a quoted bond price of 101. Oct 3 Wrote off a $2,000 balance due from a customer who went bankrupt. Dec. 29 Recorded $240,000 of service revenue, all of which was collected in cash. Dec. 30 Paid $210,000 cash for this year's wages through December 31. Ignore payroll taxes and payroll deductions. Dec. 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and income taxes.)