Banff Electronics completed these selected transactions during March $2021$:

Question Viewer :on to view the transactions.$)$

Requirement

Report these items on Banff Electronics' balance sheet at March $31,2021.$

Banff Electronics

Balance Sheet $($partial$)$

March $31,2021$

Account

Current liabilities:

Long$-$term liabilities:

Transactions

a$.$ Sales of $$3,250,000$ are subject to an accrued warranty cost of $8\%.$ The accrued warranty payable at the

beginning of the year was $$38,000,$ and warranty payments for the year totaled $$62,000.$

b$.$ On March $1,$ Banff Electronics signed a $$70,000$ note payable that requires annual payments of $$14,000$

plus $7\%$ interest on the unpaid balance beginning March $1,2022.$

c$.$ BuyMore, Inc., a chain of discount stores, ordered $$120,000$ worth of wireless speakers and related

products. With its order, BuyMore, Inc., sent a check for $$120,000$ in advance, and Banff shipped $$85,000$

of the goods. Banff will ship the remainder of the goods on April $3,2021.$

d$.$ Banff's March payroll of $$200,000$ is subject to employee withheld income tax of $$30,100$ and FICA tax of

$7\mathrm{.}65\%.$ On March $31,$ Banff pays employees their take$-$home pay and accrues all tax amounts.