Dix Company operates a retail store and must determine the proper December 31, 2008, yearend accrual for the following expenses:
• The store lease calls for fixed rent payments of \($1,200\) per month, payable at the beginning of the month, and additional rent equal to 6% of net sales over \($250,000\) per calendar year, payable on January 31 of the following year. Net sales for 2008 are \($450,000\).
• An electric bill of \($850\) covering the period December 16, 2008 through January 15, 2009 was received January 22, 2009.
• A \($400\) telephone bill was received January 7, 2009 covering:
Required:
What amount should Dix Company report as accrued liabilities on its December 31, 2008 balance sheet?

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Service in advance for January 2009 Local and toll calls for December 2008 $150 250