5 Tiger Company completed the following transactions. The annual accounting period ends December 31. January 3 Purchased merchandise on account at a cost of $26,000. (Assume a perpetual inventory system.) January 27 Paid for the January 3 purchase. April 1 Received $82,000 from Atlantic Bank after signing a 12-month, 6.0 percent promissory note. June 13 Purchased merchandise on account at a cost of $8,400. July 25 Paid for the June 13 purchase. July 31 Rented out a small office in a building owned by Tiger Company and collected eight months' rent in advance amounting to $8,400. December 31 Determined wages of $14,000 were earned but not yet paid on December 31 (ignore payroll taxes). December 31 Adjusted the accounts at year-end, relating to interest. December 31 Adjusted the accounts at year-end, relating to rent. Required: 1. & 2. Prepare journal entries for each of the transactions through August 1 and any adjusting entries required on December 31. 3. Show how all of the liabilities arising from these items are reported on the balance sheet at December 31, 1 Purchased merchandise on account at a cost of $26,000. (Assume a perpetual inventory system.) Record the transaction. 2 Paid for the January 3 purchase. Record the transaction. 3 Received $82,000 from Atlantic Bank after signing a 12- month, 6 percent promissory note. Record the transaction. 4 Purchased merchandise on account at a cost of 8,400. Record the transaction. 5 Paid for the June 13 purchase. Record the transaction. er 6 Rented out a small office in a building owned by Tiger Company and collected eight months' rent in advance amounting to $8,400. Record the transaction. 7 Determined wages of $14,000 were earned but not yet paid on December 31 (Ignore payroll taxes). Record the transaction. 8 Adjusted the accounts at year-end, relating to interest. Record the transaction. 9 Adjusted the accounts at year-end, relating to rent. Record the transaction. er Req 1 and 2 Req 3 Show how all of the liabilities arising from these items are reported on the balance sheet at December 31. (Do not round intermediate calculations.) TIGER COMPANY Balance Sheet (partial)