P9-1 (Algo) Recording and Reporting Current Liabilities LO9-1 Vigeland Company completed the following transactions during Year 1. Vigeland's fiscal year ends on December 31. January 15 Purchased and paid for merchandise. The involee amount was 515,600 ; assume a perpetual inventory Borrowed $832,000 from Summit Bank for general use; Bigned a 10 -nonth, 148 annus 1 interest-bearing note for the noney. June 14 Recelved a $17,000 eustomer deponit for services to be performed in the future. July 15 performed $3,750 of the serviees paid for on June 14 . December 12 focelved electric bi11 for $25,860. vigeland plant to pay the bil1 in early January. Decenber 31 Determined wages of $24,000 were earned but not yet paid on Decerber 31 (disregard payroll taxes). Required: 1. Prepare journal entries for each of these transactions. 2. Prepare the adjusting entries required on December 31. Complete this question by entering your answers in the tabs below. Prepare joumal entries for each of these transactions. Prepare joumal entries for each of these transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Adjusting entries will recorded in Part 2. Journal entry worksheet 5 Record the $15,600 purchase of merchandise assuming a perpetual inventory system. Note: Enter debits before credits. Journal entry worksheet Record $832,000 borrowed for general use; signing a 10 -month, 14% annual interest-bearing note for the money. Note: Enter debits before credits. Journal entry worksheet Record the a $17,000 received as customer deposit for services to be performed in the future. Note: Enter debits before credits. Journal entry worksheet 5 Record the $3,750 services paid on July 15 . Note: Enter debits before credits. Journal entry worksheet Record the $25,860 electric bill for to be paid in early January. Note: Enter debits before credits. Journal entry worksheet Record the $3,750 services paid on July 15 . Note: Enter debits before credits. Journal entry worksheet Record the $24,000 wages earned but not yet paid on December 31 (disregard payroll taxes). Note: Enter debits before credits. Journal entry worksheet Record the adjusting entry for interest expense on the $832,000,14% annual interest-bearing note as on December 31. Note: Enter debits before credits