i need help with the Journal Entries, Balance Sheet, and debt to asset ratio!

American Loser, Inc., reported the following account balances on January 1 Debit Credit Accounts Receivable $5,000 Accumulated Depreciation $ 30,000 Additional Paid-in Capital Allowance for Doubtful Accounts 130,000 2,000 Bonds Payable Buildings 287,000 Cash 20,000 Common Stock, 10,000 shares of $1 par 10,000 Notes Payable (long-tern) 20,000 Retained Earnings 120,000 Treasury Stock TOTALS $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. Feb. Is 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. Aug. 15 Reissued 600 shares of treasury stock for $4,600 cash. Sept. 15 Declared (but did not yet pay) 51 cash dividend on each outstanding share of common stock. 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. 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.) Requirement Geperat General Jomal Ledger Trial Balance Balance Sheet Debt to Assets Ratio Prepare the journal General Journal ach transaction, Review the accounts as shown in the General Ledger and Trial Balance tabs. (Do not round intermo concions. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 7 8 13 > Feb. 15 Reacquired Mar. 15 Reissued 2,400 shares of treasury stock for $28,400 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 $2,600 balance due from a customer who went bankrupt. Dec. 29 Recorded $270,600 of service revenue, all of which was collected in cash. Dec. 30 Paid $240,000 cash for this year's wages through December 31. Ignore payroll taxes and payroll deduc Dec 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for inte income taxes.) Requirement General General Journal Ledger Tal Balance Balance Sheet Debt to Assets Ratio Each journal entry is posted automatically to the general ledger, General Ledger Account Cash Accounts Receivable Debit Credit No. Debit Credit Date Jan 01 Balance 20,000 No. Date Jan 01 Balance 5,000 No. Date Allowance for Doubtful Accounts Debit Credit Jan 01 Balance 2,000 Buildings Debit No. Credit Date Jan 01 Balance 287,000 No. Accumulated Depreciation--Bulidings Debit Credit Jan 01 Date Notes Payable (long-term) Debit No. Balance 30,000 Date Jan 01 Credit Balance 20,000 No. Common Stock Debit Credit Date Jan 01 No. Balance 10,000 Additional Pald-in Capital, Common Stock Date Debit Credit Balance 130,000 Retained Earnings Debit Credit No. Date Balance 120,000 1 10 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 conon stock into treasury for $37,400 cash. Mar. 15 Reissued 2,400 shares of treasury stock for $28,400 cash. Aug 15 Reissued 600 shares of treasury stock for $4,600 cash. Sept. 15 Declared (but did not yet pay) a 51 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 $2,600 balance due from a customer who went bankrupt. Dec. 29 Recorded $278,600 of service revenue, all of which was collected in cash. Dec. 30 paid $240,000 cash for this year's wages through Decenber 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 incone taxes.) Put General Requirement General ma lance lance sheet Debt to Assets Journal Ledger Ratio The option you choose will be the values used to populate the balance sheet tabs AMERICAN LASER, INC Trial Balance December 31, 2021 Credit S Debit 20,000 5,000 2,000 OL 287,000 Account Title Cash Accounts Receivable Allowance for Doubtful Accounts Buildings Accumulated Depreciation Buildings Notes Payable (long-term) Common Stock Additional Paid in Capital, Common Stock Retained Earings Total 30,000 20.000 10,000 130,000 120.000 312,000 $ 312,000 $ 15 15sued 23, 10 points Jan. Jan. 31 collected $3,000 from customers on account. Feb. 15 Reacquired 3,400 shares of $1 por common stock into treasury for $37,400 cash. Mar. 15 Reissued 2,400 shares of treasury stock for $28,400 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 $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. Ignore payroll taxes and payroll deducti Dec. 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for intere income taxes.) eBook P Requirement General General Journal Ledger Trial Balance Balance Sheet Debt to Assets 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. AMERICAN LASER, INC Classified Balance Shoot At December 31 References $ 0 0 0 0 0 0 0 0 $ 0 0 0 MC Graw Treasury Stock TOTALS $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. Aug. 15 Reissued 600 shares of treasury stock for $4,500 cash. Sept. 15 Declared (but did not yet pay) a si 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 $2,600 balance due from a customer who went bankrupt. Dec 29 Recorded $270,000 of service revenue, all of which was colected in cash. Dec. 30 Paid $240,000 cash for this year's wages through December 131. Ignore payroll taxes and payroll dedu 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for inte income taxes.) Dec. Requirement General General Journal Debt to Assets Ledger Thal Balance Balance Sheet Ratio Calculate the Debt to Assets Ratio and analyze the impact of the Debt to Assets Ratio. Calculate the debt-to-assets ratio at December 31. (Round your answer to 2 decimal places.) Debt to Assets Ratio % Does the company rely more or less) on debt financing at the end of the year than at the beginning of the year? More Less