C11-1 (Algo) Financial Reporting of Depreciation, Write-off, Bond Issuance and Common Stock Issuance, Purchase, Reissuance, and Cash Dividends (Chapters 4, 8, 9, 10, and 11) (LO 4-2, 4-5, 8-2, 9-3, 10-3, 11-2, 11-3) 10,000 Ocean View Properties, reported the following account balances on January 1, Debit Credit Accounts Receivable $5,000 Accumulated Depreciation $ 30,000 Additional Paid-in Capital 106,000 Allowance for Doubtful Accounts 2,000 Bonds Payable Buildings 263,000 Cash 14,000 Common Stock, 10,000 shares of $1 par Notes Payable (long-tern) 14,000 Retained Earnings 120,000 Treasury Stock TOTALS $ 282,000 $282,000 The company entered into the following transactions during the year, January 15 Issued 13, eee shares of $1 par common stock for $66,000 cash. January 31 collected $3,000 from customers on account. February 15 Reacquired 3,160 shares of $1 par conton stock into treasury for $34,760 cash. March 15 Reissued 2,160 shares of treasury stock for $25,760 cash. August 15 Reissued 600 shares of treasury stock for $4,600 cash. Septenber is declared (but did not yet payla si cash dividend on each outstanding share of common stock. October 1 Issued 100, 10-year, $1,090 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 $246,000 of service revenue, all of which was collected in cash. December 38 paid $2167000 cash for this year's wages through December 31. (Ignore payroll taxes and payroll deduction) Decenber 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and income taxes.) Requirement General Journal General Ledger That Balance Balance Sheet Debt to Assets Ratio 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 neid.)