What is the present value of $530,000 to be paid in 10 years? The annual interest rate is 8 percent. (FV of $1, PV of $1. FVA of $1, and PVAof \$1l Note: Use appropriate factor(s) from the tables provided. Round your final answer to the nearest whole dollar. 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 ias $15,800; assuse a perpetual inventory systen. Apri1 1 Eorcoued $830,000 fron Sumit Bank for general use; 5igned a le-month, 7k annunl interest-bearing note for the June 14 Received a $20,000 custoner deposit for services' to be perforned in the future. July 15 Perforsed $3,050 of the services paid for on June 14. Deceaber 12 Recelved electric bill for $26,960. Vigeland plans to pay the bi11 in early January. December 31 Detereined wages of $13,000 were earned but not yet paid on Decenber 31 (disregard payrol1 taxes). 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 (1) (2) (3) 4 Record the $26,960 electric bili for to be paid in early lanuary. Hinte: Einter dehis before gedits