Recording and Reporting Current Liabilities (AP9-1) Vigeland Company completed the following transactions during Year 1. Vigeland's fiscal year ends on December 31. Jan. 15 Purchased and paid for merchandise. The invoice amount was $26,500; assume a perpetual inventory system. Apr. 1 Borrowed $700,000 from Summit Bank for general use; signed a 10-month, 6 percent annual interest-bearing note for the money. June 14 Received a $15,000 customer deposit for services to be performed in the future. July 15 Performed $3,750 of the services paid for on June 14. Dec. 12 Received electric bill for $27,860. Vigeland plans to pay the bill in early January. 31 Determined wages of $15,000 were earned but not yet paid on December 31 (disregard payroll taxes). Required: 1. Prepare journal entries for each of these transactions. antriar regired on December 31