1. A restaurant made cash sales of $8,000 subject to a 6% sales tax. Record the sales and the related sales tax. Also record the payment of the tax to the state. 2. On October 1, 2016, Draper Company purchased equipment at a cost of $30,000, signing a four-month, 7% note payable for that amount. Record the October 1 purchase. Also record the adjusting entry needed on December 31, 2016, and payment of the note plus interest at maturity on February 1, 2017. 3. How does a contingent liability differ from a known liability? When would a contingent liability be journalized