Required information P9-1 (Algo) Recording and Reporting Current Liabilities LO9-1 [The following information applies to the questions displayed below.] Vigeland Company completed the following transactions during Year 1. Vigeland's fiscal year ends on December 31. Tan. 15 Purchased and paid for merchandise. The invoice amount was $15, 900; assume a perpetual inventory system. Apr. 1 Borrowed $866,000 from Summit Bank for general use; signed a 10-month, 11% anual interest-bearing note for the money. June14 Received a $29, 000 customer deposit for services to be performed in the future. July15 Performed $4, 550 of the services paid for on June 14. Dec. 12 Received electric bill for $26, 560. Vigeland plans to pay the bill in early January. 31 Determined wages of $22,000 were eamed but not yet paid on December 31 (disregard payroll taxes). P9-1 Part 2 2. Prepare the adjusting entries required on December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet