ABC Company had the following transactions during the year: - On February 1, ABC sold 100 gift certificates for $25 each for cash. At yearend 60% of the gift certificates had been redeemed. - On April 1, land was purchased for $42,000. The land was financed with a 12 month, 7% interest bearing note. - On December 31, ABC accrued salary expense of $18,000. - The company is facing a class-action suit lawsuit in the upcoming year. It is possible, but not probable, that the company will have to pay a settlement of approximately $20,000. Determine total current liabilities relating to the above transactions at year-end December 31. $83,705 $63,205 $61,000 $63,705 $83,205