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 $15,500; assume a perpetual Inventory system. Ape. 1 Borrowed $892,000 from Summit Bank for general use; signed a 10-month, 9% annual Interest-bearing note for the money. June 14 Received a $23,000 customer deposit for services to be performed in the future. July 15 Performed $3,650 of the services palid for on June 14, Dec. 12 Received electric bill for $26,860. vigeland plans to pay the bill in early January. 31 Determined wages of $21,000 were earned 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 Record the adjusting entry required on December 31. Note: Enter debits before credits. < Prev 84 of Next > Justing entries required on December 31. (It no entry is required for a transaction/event, select required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry required on December 31. Note: Enter debits before credits. Date December 31 Record entry General Journal Clear entry Debit Credit View general journal