P9-2 (Algo) Recording and Reporting Current Liabilities and identifying Cash Flow Effects LO9-1, 9-5 Roger Company completed the following transactions during Year 1. Roger's fiscal year ends on December 31. January 8 Purchased merchandise for resale on account. The invoice amount was $14,800; assume a perpetual inventory system. January Paid January 8 invoice. April 1 Borrowed $78,000 from National Bank for general use; signed a 12-month, 12% annual interest-bearing note for the money. June 3 Purchased merchandise for resale on account. The invoice amount was $17,320. July 5 Paid June 3 invoice. August 1 Rented office space in one of Roger's buildings to another company and collected six months' rent in advance amounting to $18,000. December Received a $170 deposit from a customer as a guarantee to return a trailer 20 borrowed for 30 days. December Determined wages of $10,100 were earned but not yet paid on December 31 31 (disregard payroll taxes). Required: 1. Prepare journal entries for each of these transactions. 2. Prepare the adjusting entries required on December 31 . 3. Show how all of the liabilities arising from these transactions are reported on the balance sheet at December 31. 4. For each transaction, state whether operating cash flows increase, decrease, or are not affected. Complete this question by entering your answers in the tabs below. Prepare journal entries for each of these transactions. Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Adjusting entries will be recorded in Part 2. Journal entry worksheet \( \left\langle\begin{tabular}{ccccccc|} 2 ight. \) & 3 & 4 & 5 & 6 & 7 \end{tabular} Record the $14,800 purchased merchandise for resale on account assuming a perpetual inventory system. Note: Enter debits before credits. Journal entry worksheet 3 4 5 6 7 Record the $14,800 paid for merchandise purchased. Note: Enter debits before credits. Journal entry worksheet 1 2 4 5 6 7 Record the $78,000 borrowed for general use; signing a 12 -month, 12% annual interest-bearing note for the money. Note: Enter debits before credits. Journal entry worksheet 1 2 3 5 6 7 Record the $17,320 purchased merchandise for resale on account. Note: Enter debits before credits. Journal entry worksheet Record the $17,320 paid for merchandise purchased. Note: Enter debits before credits. Journal entry worksheet 1 2 3 4 5 7 Record the $18,000 rent collected for office space for six months. Note: Enter debits before credits. Journal entry worksheet 1 2 3 4 5 6 Record the $170 deposit received from a customer as a guarantee to return a trailer borrowed for 30 days. Note: Enter debits before credits. P9-2 (Algo) Recording and Reporting Current Liabilities and identifying Cash Flow Effects LO9-1, 9-5 Roger Company completed the following transactions during Year 1. Roger's fiscal year ends on December 31. January 8 Purchased merchandise for resale on account. The invoice amount was $14,800; assume a perpetual inventory system. January Paid January 8 invoice. April 1 Borrowed $78,000 from National Bank for general use; signed a 12-month, 12% annual interest-bearing note for the money. June 3 Purchased merchandise for resale on account. The invoice amount was $17,320. July 5 Paid June 3 invoice. August 1 Rented office space in one of Roger's buildings to another company and collected six months' rent in advance amounting to $18,000. December Received a $170 deposit from a customer as a guarantee to return a trailer 20 borrowed for 30 days. December Determined wages of $10,100 were earned but not yet paid on December 31 31 (disregard payroll taxes). Required: 1. Prepare journal entries for each of these transactions. 2. Prepare the adjusting entries required on December 31 . 3. Show how all of the liabilities arising from these transactions are reported on the balance sheet at December 31. 4. For each transaction, state whether operating cash flows increase, decrease, or are not affected. Complete this question by entering your answers in the tabs below. Prepare journal entries for each of these transactions. Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Adjusting entries will be recorded in Part 2. Journal entry worksheet \( \left\langle\begin{tabular}{ccccccc|} 2 ight. \) & 3 & 4 & 5 & 6 & 7 \end{tabular} Record the $14,800 purchased merchandise for resale on account assuming a perpetual inventory system. Note: Enter debits before credits. Journal entry worksheet 3 4 5 6 7 Record the $14,800 paid for merchandise purchased. Note: Enter debits before credits. Journal entry worksheet 1 2 4 5 6 7 Record the $78,000 borrowed for general use; signing a 12 -month, 12% annual interest-bearing note for the money. Note: Enter debits before credits. Journal entry worksheet 1 2 3 5 6 7 Record the $17,320 purchased merchandise for resale on account. Note: Enter debits before credits. Journal entry worksheet Record the $17,320 paid for merchandise purchased. Note: Enter debits before credits. Journal entry worksheet 1 2 3 4 5 7 Record the $18,000 rent collected for office space for six months. Note: Enter debits before credits. Journal entry worksheet 1 2 3 4 5 6 Record the $170 deposit received from a customer as a guarantee to return a trailer borrowed for 30 days. Note: Enter debits before credits