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Rudler Associates, reported the following account balances on January 1. The company entered into the following transactions during the year. January 15 Issued 17,000 shares
Rudler Associates, reported the following account balances on January 1. The company entered into the following transactions during the year. January 15 Issued 17,000 shares of $1 par conmon stock for $74,000 cash. January 31 Collected $3,000 from customers on account. February 15 Meacquired 3,240 shares of $1 par common stock into treasury for $35,640 cash. Narch 15 Meissued 2,240 shares of treasury stock for $26,640 cash. hagust 15 geissued 600 shares of treasury stock for $4,600cash. 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, $1,130 bonds, at a quoted bond price of 101 . october 3 Wrote off a $1,500 balance due from a custoner who went bankrupt. December 29 Recorded $254,000 of service revenue, all of which was collected in cash. December 30Paid$224,000 cash for this year's wages through December 31. (Ignore payroll taxes and payrol1 deductions.) December 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for inte and incone taxes. Answer is not complete. 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 a transaction/event, select "No journal entry required" in the first account field.)
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