Assume National Electronics completed these selected transactions during December $2021.$

$($Click the icon to view the transactions.$)$

Required

Report these liabilities on National Electronics' balance sheet at December $31,2021.$

Report each item on National Electronics' balance sheet at December $31,2021.$ First, select the current and long$-$term liability accounts. Then, enter the corresponding balances and find the total current liabilities. $($Use $365$ days for interest calculations. Round all amounts to the nearest whole dollar.$)$

$\backslash$table$[[\backslash$table$[[$National Electronics$],[$Balance Sheet $($partial$)],[$December $31,2021]]]]$

Transactions

Music For You Inc., a chain of music stores, ordered $$110,000$ worth of CD players. With its order, Music For You Inc. sent a cheque for $$110,000.$ National Electronics will ship the goods on January $3,2022.$

The December payroll of $$720,000$ is subject to employee withheld income tax of $17$ percent, CPP expenses of $$39,240$ for the employee and an equal amount for the employer, and EI deductions of $1\mathrm{.}58$ percent for the employee and $1\mathrm{.}4$ times the employee rate of $1\mathrm{.}58$ percent for the employer. On December $31,$ National Electronics pays employees but accrues all tax amounts. Employees have not reached CPP or EI maximums.

Sales of $$33,000,000$ are subject to estimated warranty cost of $0\mathrm{.}9$ percent. This was the first year the company provided a warranty, and no warranty claims have been recorded or paid.

On December $2,$ National Electronics signed a $$55,000$ note payable that requires annual payments of $$11,000$ plus $4$ percent interest on the unpaid balance each December $2.$ National calculates interest on this note based on days, not months.