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 $14,800; assume a perpetual Inventory system. Apr. 1 Borrowed $630,000 from Summit Bank for general use; signed a 10-month, 140 annual interest-bearing note for the money. June 14 Received a $21,000 customer deposit for services to be performed in the future. July15 Performed $4,050 of the services paid for on June 14. Dec.12 Received electric bill for $26,360. Vigeland plans to pay the bill in early January. 31 Determined wages of $20,000 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.) Answer is complete but not entirely correct. No Date General Journal Credit Debit 2,000 December 31 Wage expense Wages payable 2,000