P9-2 Recording and Reporting Current Liabilities with Discussion of Cash Flow Effects Recording and Reporting Current Liabilities and identifying Cash Flow Effects (AP9-2) Roger Company completed the following transactions during Year 1. Roger's fiscal year ends on December 31 . Jan. 8 Purchased merchandise for resale on account. The invoice amount was $14,860; assume a perpetual inventory system. 17 Paid January 8 invoice. Apr. 1 Borrowed $35,000 from National Bank for general use; signed a 12-month, 8 percent annual interest-bearing note for the money. June 3 Purchased merchandise for resale on account. The invoice amount was $17,420. July 5 Paid June 3 invoice. Aug. 1 Rented office space in one of Roger's buildings to another company and collected six months' rent in advance amounting to $6,000. Dec. 20 Received a $100 deposit from a customer as a guarantee to return a trailer borrowed for 30 days. 31 Determined wages of $9,500 were earned but not yet paid on December 31 (disregard payroll taxes). Required: 1. Prepare journal entries for each of these transactions. 2. Prepare all adjusting entries required on December 31 . 3. What is the total amount of liabilities arising from these transactions that will be reported on the fiscal year-end balance sheet? 4. For each transaction state whether operating cash flows increase, decrease, or are not affected