Salt Air Marine experienced these events during the current year. 1 (Click the icon to view the facts.) Requirement 1. For each item, indicate the account and the related amount to be reported as a current liability on the Salt Air Marine balance sheet at December 31 Account Amount Account Amount b. Amount Account C. Account Amount d. Account Amount More Info a. December revenue totaled $100,000; and, in addition, Salt Air collected sales tax b. On August 31, Salt Air signed a six-month, 4% note payable to purchase a boat c. On August 31, Salt Air received cash of $1,200 in advance for service revenue d. of 5%. The tax amount will be sent to the state of Delaware early in January. costing $84,000. The note requires payment of principal and interest at maturity This revenue will be earned evenly over six months Revenues of $775,000 were covered by Salt Air's service warranty. At January 1, accrued warranty payable was $11,500. During the year, Salt Air recorded warranty expense of $31,000 and paid warranty claims of $34,600 Salt Air owes $75,000 on a long-term note payable. At December 31, 9% interest for the year plus $25,000 of this principal are payable within one year. e. Print Done