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ACCT 2301 1. Your goal is to be able to withdraw $10,000 for each of...

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Accounting

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ACCT 2301 1. Your goal is to be able to withdraw $10,000 for each of the next nine years beginning one year from today and also to withdraw $50,000 ten years from today. The return on the investment is expected to be 696. What's the amount that needs to be invested today? (2 points) 2. Vigeland Company completed the following transactions during Year 1. Vigeland's fiscal year ends on December 31. Apr. 1 Borrowed $700,000 from Summit Bank for general use; signed a 10- month. 6% annual interest-bearing note for the money. June 14 Received a $15,000 customer deposit for services to be performed in the future. July 15 Performed $3,750 of the services paid for on June 14. Required: Prepare all journal entries for each transaction and adjusting entries required on December 31. (8 points) Page 1 of 1

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