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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

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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 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

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