Sea Spray Marine experienced these events during the current year. (1) (Click the icon to view the facts.) Requirement Account Amount Account Amount December 31. (Complete all input fields.) More info a. December revenue totaled $160,000; and, in addition, Sea Spray collected sales tax of 5%. The tax amount will be sent to the state of South Carolina early in January. b. On August 31 , Sea Spray signed a six-month, 9% note payable to purchase a boat costing $80,000. The note requires payment of principal and interest at maturity. c. On August 31, Sea Spray received cash of $1,800 in advance for service revenue. This revenue will be earned evenly over six months. d. Revenues of $800,000 were covered by Sea Spray's service warranty. At January 1 , accrued warranty payable was $11,300. During the year, Sea Spray recorded warranty expense of $32,000 and paid warranty claims of $34,800. e. Sea Spray owes $75,000 on a long-term note payable. At December 31,9% interest for the year plus $35,000 of this principal are payable within one year