Norma smith is the controller of baylor corporation and is responsible for the preparation of the year-end financial statements. for each of the following transactions occurred during the year, indicate the dollar amount to be reported as a current liability as of december 31, 2014. (do not leave any answer field blank. enter 0 for amounts.)reported as(a) on december 20, 2014, a former employee filed a legal action against baylor for $100,000 for wrongful dismissal. management believes the action to be frivolous and without merit. the likelihood of payment to the employee is remote. $norma smith is the controller of baylor corporationorma smith is the controller of baylor corporatio current liabilitynot a current liability(b) bonuses to key employees based on net income for 2014 are estimated to be $150,000. $norma smith is the controller of baylor corporationorma smith is the controller of baylor corporatio current liabilitynot a current liability(c) on december 1, 2014, the company borrowed $600,000 at 8% per year. interest is paid quarterly. $norma smith is the controller of baylor corporationorma smith is the controller of baylor corporatio current liabilitynot a current liability(d) credit sales for the year amounted to $10,000,000. baylor’s expense provision for doubtful accounts is estimated to be 3% of credit sales. $norma smith is the controller of baylor corporationorma smith is the controller of baylor corporatio not a current liabilitycurrent liability(e) on december 15, 2014, the company declared a $2 per share dividend on the 40,000 shares of common stock outstanding, to be paid on january 5, 2015. $norma smith is the controller of baylor corporationorma smith is the controller of baylor corporatio current liabilitynot a current liability(f) during the year, customer advances of $160,000 were received; $50,000 of this amount was earned by december 31, 2014. $norma smith is the controller of baylor corporatio