American Laser, Inc., reported the following account balances on January 1 Credit Debit 5,009 $ Accounts Receivable Accumulated Depreciation Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings $3e.ee 110,000 2.88 Cash 287,000 20,00 Common Stock, 10,000 shares of $1 par Notes Payable (long-term) Retained Earnings Treasury Stock TOTALS 10. 20. 120.000 312,000 $312,000 The company entered into the following transactions during the year. Jan. 15 Issued 25,000 shares of $1 par common stock for $90,000 cash. Jan. 31 collected $3,000 from customers on account. Feb. 15 Reacquired 3,400 shares of $1 par common stock into treasury for $37,400 cash. Mar. 15 Reissued 2,400 shares of treasury stock for $28,400 cash. Aue 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 ock. 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 $270,000 of service revenue, all of which was collected in cash. Dec. 30 Paid $240,000 cash for this year's wages through December 31. Tenore 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.) Answer is not complete. Requirement General Journal General Ledger Trial Balance Balance Su Debt to Assets Rato 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 transaction event, select "No journal entry required in the first account field.) NO Date Credit Debit 90.000 Jan 15 General Journal Cash Common Stock Additional Pardin Capital, Common Stock 1 25.000 85.000 1 Jan 31 3.000 Cash Accounts Receivable 3.000 Feb 15 37,400 Treasury Stock Cash 37400 Mar 15 Cash Treasury Stock Additional Pads Cap Treasury Stock LUNI DIN 23UUU Additional Paid In Capital, Common Stock 65,000 Jan 31 Cash Accounts Receivable 3,000 3.000 Peb 15 Treasury Stock Cash 37,400 37.400 Mar 15 Cash - 28,400 Treasury Stock Additional Paid-in Capital, Treasury Stock 26,000 2.400 Aug 15 4.600 Cash Additional Paid-in Capital, Treasury Stock Treasury Stock 2000 6,600 Sep 15 35,000 Cash Equivalents Dividends Payable OO OO OO OO OOO OOO OOO 0000 m 35,000 Oct 01 101.000 Cash Premium on Bonds Payable Bonds Payable 1,000 100,000 Oct 03 2,000 Allowance for Doubtful Accounts Accounts Receivable 2,000 Dec 29 270,000 Cash Service Revenue 270,000 10 Dec 30 Salaries and Wages Expense 240.000 240,000 Dec 31 Retained Earnings 10 000 Cash Equivalents 10,000 Dec 31 3.600 N Loss on Disposal of PPE Dividends 34.500 Dec 31 240.000 Dividends Salaries and Wages Payable 240,000 AMERICAN LASER, INC Classified Balance Sheet At December 31 Assets Noncurrent Assets Buildings Accumulated Depreciation-Buildings 287,000 30,000 239,600 Cash Total Current Assets 556,600 (4,800) 551,800 $ Accounts Receivable Treasury Stock Total Assets Liabilities and Stockholders' Equity Stockholders' Equity Noncurrent Liabilities Notes Receivable (long-term) Bonds Payable Total Noncurrent Liabilities Stockholders' Equity Common Stock Retained Earnings Prepaid Insurance Additional Paid-In Capital, Common Stock X 100,000 100,000 35,000 110,000 X 195,000 340,000 440,000 Current Liabilities Liabilities Allowance for Doubtful Accounts Dividends Payable 35,000 35,000 Total 35,000 Total Stockholders' Equity Total Liabilities and Stockholders' Equity 35,000 475,000 $