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Journal entry worksheet 5 Note: Enter debits before credits. Journal entry worksheet Record the $14,200 purchase of merchandise assuming a perpetual inventory system. Note: Enter debits before credits. Prepare the adjusting entries required on vecember 31. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fie Journal entry worksheet Record the adjusting entry for interest expense on the $800,000,7% annual interest-bearing note as on December 31 . Note: Enter debits before credits. Vigeland Company completed the following transactions during Year 1. Vigeland's fiscal year ends on December 31. Jasuary 15 Purchased and paid for merchandise. The involee anouat van 514,200 ; assuse a perpetual inventory April 1 Borroved $B06,000 fron Summit Bank tor geseral uset signod a 10-month, 71 annual intereat-bearing Jane-14- note for the noney, July is Recelved a $34,000 eustoner deponit for services to be performed in the future. Decenber 12 Performed $3,150 of the services paid for on June 14. Decenbor 32 Received electrio bil1 for 527,360 . Vigeland plane to pay the bil1 in early January. 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. Notes If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Adjusting entries will be: recorded in Part 2 . recorded in Part 2. Journal entry worksheet Record the $24,000 wages earned but not yet paid on December 31 (disregard payroll taxes). Note: Enter debits before credits. Journal entry worksheet Record the $27,860 electric bill for to be paid in early January. Note: Enter debits before credits. Journal entry worksheet 5 Record the a $34,000 received as customer deposit for services to be performed in the future. Note: Enter debits before credits. Journal entry worksheet 5 Record $800,000 borrowed for general use; signing a 10 -month, 7% annual interest-bearing note for the money. Note: Enter debits before credits

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