Vigeland Company completed the following transactions during Year 1. Vigeland's fiscal year ends on December 31. January 15 Purchased and paid for merchandise. The invoice amount was $16,000; assume a perpetual inventory April1Borrowed$728,000fromSummitBankforgeneraluse;signeda10-month,118annualinterest-bearingJune14Receiveda$23,000customerdepositforservicestobeperformedinthefuture.July15December12December31system.noteforthemoney.Performed$3,250oftheservicespaidforonJune14.Receivedelectricbillfor$25,860.VigelandplanstopaythebillinearlyJanuary.Determinedwagesof$22,000wereearnedbutnotyetpaidonDecember31(disregardpayrolltaxes). Required: 1. Prepare journal entries for each of these transactions. 2. Prepare the adjusting entries required on December 31 . Complete this question by entering your answers in the tabs below. Prepare journal entries for each of these transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Adjusting entries will be recorded in Part 2. Journal entry worksheet