JJ$$s Company completed the following transactions during the current accounting year ended December $31$:

March $1$: Borrowed $$25,000$ on a $2-$year, $12\%$ note. Interest is paid annually.

April $1$: Borrowed cash and signed a $$20,000,2-$year, noninterest$-$bearing note. The market rate of interest for this level of risk was judged by the lender to be $12\%.$

Throughout the year, sold merchandise worth $$30,000$ that carried a $2-$year warranty for parts and labor. Jack estimates that the cost of any warranty repairs will be $1\mathrm{.}5\%$ of the total sales. As of December $31,$ actual warranty repair costs were $$250.$

June $1$: Jack co$-$signed and guaranteed payment of a $$50,000,14\%,1-$year note owed by Bob Corp, one of Jack$$s suppliers, in order to help them continue to supply Jack$$s needed parts. Jack believes that default by Bob is only reasonably possible.

December sales revenue $($excluding sales taxes collected$)$ was $$400,000.$ The sales tax rate is $5\%.$ Jack had already paid the sales taxes owed on all previous months$$ sales.

On December $31,$ Jack accrued interest on all unpaid borrowings.

Required:

For each of the items above, provide entries that Jack should make to get all accounts correct as of December $31.$

List all liabilities that would be part of $$current liabilities$$ in Jack$$s December $31$ balance sheet, including their year$-$end amounts.