Salt Air Marine experienced these events during the current year.

a$.$ December revenue tolaled $$110,000$; and, in addition, Salt Air collected sales tax of $5\%.$ The tax amount will be sent to the

state of North Carolina early in January:

On August $31,$ Salt Air signed a six$-$month, $9\%$ note payable to purchase a boat costing $$88,000.$ The note requires

payment of principal and interest at maturity.

c$.$ On August $31,$ Salt Air received cash of $$3,000$ in advance for service revenue. This revenue will be earned evenly over six

months:

d$.$ Revenues of $$775,000$ were covered by Salt Air's service warranty. At January $1,$ estimated warranty payable was

$$11,300.$ During the year, Salt Air recorded warranty expense of $$31,000$ and paid warranty claims of $$34,300.$

e$.$ Salt Air owes $$75,000$ on a long$-$term note payable. At December $31,10\%$ interest for the year plus $$40,000$ of this

principal are payable within one year.

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 $31.$

a$.$ Sales tax payable

b$.$ Note payable, short$-$

term

Interest payable

c$.$ Unearned service

revenue

d$.$ Estimated warranty payable

e$.$ Portion of long$-$term note payable due

within one year

Interest payable