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 $14,400; assume a perpetual inventory system. Apr. 1 Borrowed $708,000 from Summit Bank for general use; signed a 10-month, 14% annual interest-bearing note for the money. June 14 Received a $26,000 customer deposit for services to be performed in the future. July 15 Performed $2,850 of the services paid for on June 14. Dec. 12 Received electric bill for $26,760. Vigeland plans to pay the bill in early January. 31 Determined wages of $29,000 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.)

                                         VIGELAND COMPANY

                                           Journal Entries

Date                Description                                    DR                     CR

Jan 15            Merchandising Inventory              14,400

                      Cash                                                                       14,400

                      Being record of inventory purchase

April 1        Cash                                                     708,000

                 14% Note payable                                                      708,000

               Being the record of note payable issued

June 14      Bank                                                        26,000

                  Unearned Income                                                      26,000

             Being the record of deposit received

July 15         Unearned Income                                    2,850

                  Service  Revenue                                                          2,850

                Being the payment for the services rendered

Dec 12        Electricity bill payable                                26,760

                   Electricity bill expenses                                               26,760

              Being the unsetled bill for the year

Dec 31     Wages payable                                                 29,000

               Wages Expenses                                                              29,000

Explanation:

send the charted data

answer; (a) calling people who have not shown interest in the product and asking them to buy it;