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The following transactions apply to Ozark Sales for Year :
The business was started when the company received $ from the issue of common stock.
Purchased equipment inventory of $ on account.
Sold equipment for $ cash not including sales tax Sales tax of percent is collected when the merchandise is
sold. The merchandise had a cost of $
Provided a sixmonth warranty on the equipment sold. Based on industry estimates, the warranty claims would amount
to percent of sales.
Paid the sales tax to the state agency on $ of the sales.
On September Year borrowed $ from the local bank. The note had a percent interest rate and matured on
March Year
Paid $ for warranty repairs during the year.
Paid operating expenses of $ for the year.
Paid $ of accounts payable.
Recorded accrued interest on the note issued in transaction no
c What is the total amount of current liabilities at December Year
Note: Round your answer to the nearest dollar amount.
Total current liabilities
