ABC Co. operates a retail store. All items are sold subject to a 6% state sales tax, which ABC collects and records as sales revenue. ABC files quarterly sales tax returns when due, by the 20th day following the end of the sales quarter. However, in accordance with state requirements, ABC remits sales tax collected by the 20th day of the month following any month such collections exceed $500. ABC takes these payments as credits on the quarterly sales tax return. The sales taxes paid by ABC are charged against sales revenue.

Following is a monthly summary appearing in ABC's first calendar quarter sales revenue account:

Debit Credit

January $ -- $10,600

February 600 7,420

March -- 8,480

$600 $26,500

In its March 31 balance sheet, what amount should ABC report as sales taxes payable?

$600

$1,500

$1,590

$900