P11-7A Following are pertinent facts about events during the current year at Innovech, Inc.:

a. On November 30, Innovech received rent of $6.600 in advance for a lease on a building. This rent will be earned evenly over three months.

b. December sales totaled $113,000, and Innovech collected an additional state sales tax of 7%. This amount will be sent to the State of Tennessee early in January.

c. Innovech owes $100,000 on a long-term note payable. At December 31, 6% interest since July 31 and $20,000 of this principal are payable within one year.

d. Sales of $430,000 were covered by Innovech's product warranty. At January 1, estimated warranty payable was $8,100. During the year. Innovech recorded warranty expense of $22.300 and paid warranty claims of $24.900.

e. On September 30. Innovech signed a six-month. 9% note payable to purchase equip- ment costing $30,000. The note requires payment of principal and interest at maturity. Required For each item, indicate the account and the related amount to be reported as a current liability on Innovech's December 31 balance sheet.