tujie Xie is the controller of Flounder Corporation and is responsible for the preparation of the year and fancial statements on December 31, 2020. Flounder prepares financial statements in accordance with ASPL. The following transactions occurred during the year: 1. 2. 3. 4. On December 20, 2020, an employee filed a legal action against Flounder for $190,000 for wrongful dial. Management believes the action to be frivolous and without merit. This opinion is shared by the corporate lawyer involved in the matter. The likelihood of payment to the employee in remote. Bonuses to key employees based on net income for 2020 are estimated to be $180,000 On December 1, 2020, the company borrowed $996,000 at 5% per yearInterest is paid quarterly. Credit sales for the year amounted to $12 million. Flounder's expense provision for doubtful accounts is estimated to be 2% of credit sales. On December 15, 2020, the company declared a $2.03 per common share dividend on the 41,000 common shares outstanding, to be paid on January 5, 2021. During the year, customer advances of $260,000 were received, $53,000 of this amount was earned by December 31, 2020. 5. 6. 6. During the year, customer advances of $260,000 were received: $53,000 of this amount was earned to December 31, 2020. 7. Late in December 2020, Flounder received a notice of assessment for its 2019 income tax filing. The Canada Reverse Agency disallowed a deduction claimed by Flounder and an additional $8,000 of income taxes are cwing and will be paid in early January 2021. For each item above, indicate the dollar amount to be reported as a current liability. (Round answers to decimal places.es 5,752) Iteam No. Amount 1. $