American Laser, Inc., reported the following account balances on January 1. Debit $ 5,000 Credit $ 30,000 124,000 2,000 0 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 281,000 18,500 10,000 18,500 120,000 0 $304,500 $304,500 The company entered into the following transactions during the year. Jan. 15 Issued 22,000 shares of $1 par common stock for $84,000 cash. Jan. 31 collected $3,000 from customers on account. Feb. 15 Reacquired 3,340 shares of $1 par common stock into treasury for $36,740 cash. Mar. 15 Reissued 2,340 shares of treasury stock for $27,740 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 of a $2,000 balance due from a customer who went bankrupt. Dec. 29 Recorded $264,000 of service revenue, all of which was collected in cash. Dec. 30 Paid $234,000 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.) General General Debt to Assets Requirement Journal Ledger Trial Balance Balance Sheet Ratio Use the dropdowns to select the accounts properly included on the classified balance sheet. However, you will need to enter the amount of Retained earnings. At the end of the year, the adjusted net income was $20,000 AMERICANIASER IN