Required information

$[$

The following information applies to the questions displayed below.

$]$

The following transactions apply to Ozark Sales for Year

$1$

:

The business was started when the company received $

$4$

$9$

$,$

$5$

$0$

$0$

$$from the issue of common stock.

Purchased equipment inventory of $

$1$

$7$

$6$

$,$

$5$

$0$

$0$

$$on account.

Sold equipment for $

$1$

$9$

$2$

$,$

$5$

$0$

$0$

$$cash

$($

not including sales tax

$)$

$.$

$$Sales tax of

$7$

$$percent is collected when the merchandise is

sold. The merchandise had a cost of $

$1$

$1$

$7$

$,$

$5$

$0$

$0$

$.$

Provided a six

$-$

month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount

to

$3$

$$percent of sales.

Paid the sales tax to the state agency on $

$1$

$4$

$2$

$,$

$5$

$0$

$0$

$$of the sales.

On September

$1$

$,$

$$Year

$1$

$,$

$$borrowed $

$1$

$9$

$,$

$5$

$0$

$0$

$$from the local bank. The note had a

$6$

$$percent interest rate and matured on

March

$1$

$,$

$$Year

$2$

$.$

Paid $

$5$

$,$

$8$

$0$

$0$

$$for warranty repairs during the year.

Paid operating expenses of $

$5$

$5$

$,$

$0$

$0$

$0$

$$for the year.

Paid $

$1$

$2$

$5$

$,$

$0$

$0$

$0$

$$of accounts payable.

Recorded accrued interest on the note issued in transaction no

$.$

$6$

$.$

c

$.$

$$What is the total amount of current liabilities at December

$3$

$1$

$,$

$$Year

$1$

$?$

Note: Round your answer to the nearest dollar amount.

Total current liabilitiesRequired information

$[$The following information applies to the questions displayed below.$]$

The following transactions apply to Ozark Sales for Year $1$:

The business was started when the company received $$49,500$ from the issue of common stock.

Purchased equipment inventory of $$176,500$ on account.

Sold equipment for $$192,500$ cash $($not including sales tax$).$ Sales tax of $7$ percent is collected when the merchandise is

sold. The merchandise had a cost of $$117,500.$

Provided a six$-$month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount

to $3$ percent of sales.

Paid the sales tax to the state agency on $$142,500$ of the sales.

On September $1,$ Year $1,$ borrowed $$19,500$ from the local bank. The note had a $6$ percent interest rate and matured on

March $1,$ Year $2.$

Paid $$5,800$ for warranty repairs during the year.

Paid operating expenses of $$55,000$ for the year.

Paid $$125,000$ of accounts payable.

Recorded accrued interest on the note issued in transaction no$.6.$

c$.$ What is the total amount of current liabilities at December $31,$ Year $1?$

Note: Round your answer to the nearest dollar amount.

Total current liabilities