American Laser, Inc., reported the following account balances on January 1. Debit 5,000 Credit $ $ 30,000 106,000 2,000 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 263,000 14,000 10,000 14,000 120,000 $282,000 $282,000 The company entered into the following transactions during the year. Jan. 15 Issued 13,000 shares of $1 par common stock for $66,000 cash. Jan. 31 Collected $3,000 from customers on account. Feb. 15 Reacquired 3,160 shares of $1 par common stock into treasury for $34,760 cash. Mar. 15 Reissued 2,160 shares of treasury stock for $25,760 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 $246,000 of service revenue, all of which was collected in cash. Dec. 30 Paid $216,000 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 inco taxes.) Requirement General Journal General Ledger Debt to Assets Trial Balance Balance Sheet Ratio Prey 1 of 1 2 Next >