Prepare the adjusting entries required on December 31. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Prepare journal 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 be recorded in Part 2. 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 $14,700; assume a perpetual inventory system. January 17 Paid January 8 invoice. April 1 Borrowed $60,000 from National Bank for general use; signed a 12-month, 148 annual interest-bearing note for the money. June 3 Purchased merchandise for resale on account. The involce 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 20 Received a $110 deposit from a customer as a guarantee to return a trailer borrowed for 30 days. December 31 Determined wages of $10,200 were earned but not yet paid on December 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