Glenview Hardware had the following transactions that produced liabilities during the year: a. Purchased merchandise on credit for $30,000. (Note: Assume a periodic inventory system). c. Year-end estimated income taxes payable, but unpaid, for the year were $42,850. d. Sold merchandise on account for $1,176, including state sales taxes of $56. (Note: Assume a periodic inventory system). e. Employer's share of Social Security and Medicare taxes for the period were $248 and $58, respectively. f. Borrowed cash under a 90 -day, 9%,$25,000