Debit Credit Accounts Receivable Accumulated Depreciation Additional Paid-in Capital $ 5,000 $ 30,000 92,000 Allowance for Doubtful Accounts 2,000 Bonds Payable 0 Buildings 249,000 Cash 10,500 Common Stock, 10,000 shares of $1 par 10,000 Notes Payable (long-term) 10,500 Retained Earnings 120,000 Treasury Stock 0 $ 264,500 TOTALS $ 264,500 The company entered into the following transactions during the year. January 15 Issued 6,000 shares of $1 par common stock for $52,000 cash. January 31 Collected $3,000 from customers on account. February 15 Reacquired 3,020 shares of $1 par common stock into treasury for $33,220 cash. March 15 Reissued 2,020 shares of treasury stock for $24,220 cash. August 15 Reissued 600 shares of treasury stock for $4,600 cash. September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock. October 1 Issued 100, 10-year, $1,020 bonds, at a quoted bond price of 101. October 3 Wrote off a $1,500 balance due from a customer who went bankrupt. December 29 Recorded $232,000 of service revenue, all of which was collected in cash. December 30 Paid $202,000 cash for this year's wages through December 31. (Ignore payroll taxes and payroll deductions.) December 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and income taxes.) Return to question