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Required information The following information applies to the questions displayed below! Vigeland Company completed the following transactions during Year 1. Vigeland's fiscal year ends on

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Required information 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 Jan. 15 Purchased and paid for merchandise. The invoice amount was 614,200: assume a perpetual inventory system. Apr. 1 Borrowed 5876,000 from Summit Bank for general we wigned a 10-month, 13 annual interest-bearing note for the money. June14 Received a $25,000 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 $27,260. Vigeland plans to pay the bill in early January. 31 Determined wages of $10,000 were earned but not yet paid on December 31 (disregard payroll taxes). Required: 1. Prepare journal entries for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 January 15 Inventory Cash 2 April 01 Cash Note payable, short term 3 June 14 Cash Deferred revenue 4 July 15 Deferred revenue Service revenue 5 December 12 Utilities expense Utilities payable 6 December 31 Wage expense

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