c. d. e. HANDOUT PROBLEM for CURRENT LIABILITIES I. Prepare journal entries for the following chronological transactions which took place during 2021. On September 1. collected $12,000 of rent on our extra office. The rent covers the six-month period from September 1, 2021 through February 28, 2022. b. Borrowed $200,000 from the bank and issued a 3-month, 9% note. Sold products for $300,000 on account. The products cost $120,000. The products come with a 12 month warranty. Declared a $16,000 cash dividend. Recorded $50,000 of wages earned by employees including $9,000 of withholding taxes and $4,000 of social security taxes. f Bought a piece of equipment for $40,000 on November 1 and issued a 3 year, 8% note as payment. Payments of principal and interest must be made annually on October 31 each year. Performed $1,085 of repairs on products under warranty. h. Paid off the note in part "6." plus interest on the due date. i. December 31, adjusting entries: 1. Accrued wages of $625. Do not accrue additional payroll taxes. 2. Adjusted for the rent in part "a." 3. Accrued interest on the note in part "f" Estimated that additional repairs of $1,620 will be performed on products which were sold in 2021 under warranty. 5. Estimated that the company will owe 541,458 of income taxes for the year. 41 ) * Pro 4. II. Prepare a list of the current liabilities and their ending balances from the above transactions which should be reported on the balance sheet on December 31, 2021. III. Prepare a list of the NON-current liabilities and their ending balances from the above transactions which should be reported on the balance sheet on December 31, 2021