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P9-1 P9-1 Recording and Reporting Current Liabilities LO9-1 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 $26,500; assume a perpetual inventory system. Apr. 1 Borrowed $700,000 from Summit Bank for general use; signed a 10-month, 6% annual interest-bearing note for the money. June Received a $15,000 customer deposit for services to be performed in the future. 14 July 15 Performed $3,750 of the services paid for on June 14. Dec. Received electric bill for $27,860. Vigeland plans to pay the bill in early January. 12 31 Determined wages of $15,000 were earned but not yet paid on December 31 (disregard payroll taxes). Required: 1. Prepare journal entries for each of these transactions. 2. Prepare all adjusting entries required on December 31