Ravis Co. must determine the December 31, 2003, year-end accruals for advertising and rent expenses. A $500 advertising bill was received January 7, 2004, comprising costs of $375 for advertisements in December 2003 issues and $125 for advertisements in January 2004 issues of the newspaper. A store lease, effective December 16, 2002, calls for fixed rent of $1,200 per month, payable one month from the effective date and monthly thereafter. In addition, rent equal to 5 percent of net sales over $300,000 per calendar year is payable on January 31 of the following year. Net sales for 2003 were $550,000. On its December 31, 2003, balance sheet, Travis should report accrued liabilities of??