Requirement 1. For each item, indicate the account and the related amount to be reported as a current liability on the Sea Air Marine balance sheet at December 31 Account Amount 6,000 Sales tax payable b. Account Notes payable, short-term Interest payable Amount 86,000 1,720 Account Amount Uneamed service revenue 800 Account Amount d. Revenues of $850,000 were covered by Sea Air's service warranty. At January 1, accrued warranty payable was $11,800. During the year, Sea Air recorded warranty expense of $34,000 and paid warranty claims of $34,500. n nalaunate nanhia A.Nananbar 24 400/ nt year. * More Info b. a. December revenue totaled $120,000; and, in addition, Sea Air collected sales tax of 5%. The tax amount will be sent to the state of Florida early in January. On August 31, Sea Air signed a six-month, 6% note payable to purchase a boat costing $86,000. The note requires payment of principal and interest at maturity. c. On August 31, Sea Air received cash of $2.400 in advance for service revenue This revenue will be earned evenly over six months. d. Revenues of $850,000 were covered by Sea Air's service warranty. At January 1, accrued warranty payable was $11,800. During the year, Sea Air recorded warranty expense of $34,000 and paid warranty claims of $34,500. e. Sea Air owes $90,000 on a long-term note payable. At December 31, 10% interest for the year plus $30,000 of this principal are payable within one year. Print Done elds and then click Check Answer. Clear All