Following are pertinent facts about events during the current year at Lafferty Trailers.

a. December sales totaled \(\$ 300,000\), and Lafferty collected sales tax of \(5 \%\). The sales tax will be sent to the state of Virginia early in January. 

b. Sales are covered by a I afferty product warranty. At January 1 , estimated warranty payable was \(\$ 1,300\). During the year, Lafferty recorded warranty expense of \(\$ 7,900\) and paid warranty claims of \(\$ 8,100 .(0.554)\)

c. 1 . afferty owes \(\$ 75,000\) on a note payable. At December \(31,6 \%\) interest for the year plus \(\$ 25,000\) of this principal are payable within one year.

d. On August 31, I.afferty signed a six-month, \(6 \%\) note payable to purchase equipment costing \(\$ 80,000\). The note requires payment of principal and interest at maturity. 

e. On October 31, Lafferty received cash of \(\$ 2,400\) in advance for the rent on a building. This rent will be earned evenly over six months.

Requirement 

For each item, indicate the account and the related amount to be reported www.MyAccountingLab.com as a current liability on Lafferty's December 31 balance sheet.