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Vigeland Company completed the following transactions during Year 1 . Vigeland's fiscal year ends on December 3 1 . January 1 5 Purchased and paid
Vigeland Company completed the following transactions during Year Vigeland's fiscal year ends on December
January Purchased and paid for merchandise. The invoice amount was $; assume a perpetual inventory system.
April Borrowed $ from Summit Bank for general use; signed a month, annual interestbearing note for the
June money.
July Received a $ customer deposit for services to be performed in the future.
Performed $ of the services paid for on June
December Received electric bill for $ Vigeland plans to pay the bill in early January.
December Determined wages of $ were earned but not yet paid on December disregard payroll taxes
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Prepare journal entries for each of these transactions.
Prepare the adjusting entries required on December
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Prepare journal entries for each of these transactions.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Adjusting entries will be recorded in Part
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