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Required information

Exercise $9-8$A $($Algo$)$ Current liabilities LO $9-1,9-2,9-4$

$[$The following information applies to the questions displayed below.$]$

The following transactions apply to Ozark Sales for Year $1$:

The business was started when the company received $$48,000$ from the issue of common stock.

Purchased equipment inventory of $$175,500$ on account.

Sold equipment for $$192,000$ cash $($not including sales tax$).$ Sales tax of $6$ percent is collected when the merchandise is

sold. The merchandise had a cost of $$117,000.$

Provided a six$-$month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount

to $4$ percent of sales.

Paid the sales tax to the state agency on $$142,000$ of the sales.

On September $1,$ Year $1,$ borrowed $$20,500$ from the local bank. The note had a $5$ percent interest rate and matured on

March $1,$ Year $2.$

Paid $$5,500$ for warranty repairs during the year.

Paid operating expenses of $$53,500$ for the year.

Paid $$124,300$ of accounts payable.

Recorded accrued interest on the note issued in transaction no$.6.$

Exercise $9-8$A $($Algo$)$ Part c

c$.$ What is the total amount of current liabilities at December $31,$ Year $1?$

Note: Round your answer to the nearest dollar amount.