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[The following information applies to the questions displayed below.] Vigeland Company completed the following transactions during Year 1. Vigelands fiscal year ends on December 31.

Jan.	15		Purchased and paid for merchandise. The invoice amount was $14,400; assume a perpetual inventory system.
Apr.	1		Borrowed $766,000 from Summit Bank for general use; signed a 10-month, 9% annual interest-bearing note for the money.
June	14		Received a $29,000 customer deposit for services to be performed in the future.
July	15		Performed $3,150 of the services paid for on June 14.
Dec.	12		Received electric bill for $27,560. Vigeland plans to pay the bill in early January.
	31		Determined wages of $22,000 were earned but not yet paid on December 31 (disregard payroll taxes).

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.)