a. Sales of $2,400,000 are subject to an accrued warranty cost of 8%. The accrued warranty payable at the beginning of the year was $39,000, and warranty payments for the year totaled $58,000.
b. On March 1, Banff Electronics signed a $25,000 note payable that requires annual payments of $5,000 plus 8% interest on the unpaid balance beginning March 1, 2019.
c. Panorama, Inc., a chain of discount stores, ordered $105,000 worth of wireless speakers and related products. With its order, Panorama, Inc., sent a check for $105,000 in advance, and Banff shipped $85,000 of the goods. Banff will ship the remainder of the goods on April 3, 2018.
d. Banff's March payroll of $300,000 is subject to employee withheld income tax of $30,100 and FICA tax of 7.65%. On March 31, Banff pays employees their take-home pay and accrues all tax amounts.
Report these items on Banff Electronics' balance sheet at March 31, 2018.