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Current Attempt in Progress You and several classmates are studying for the next accounting exam....

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Accounting

Current Attempt in Progress
You and several classmates are studying for the next accounting exam. They ask you to answer the following questions.
If cash is borrowed on a $88,000,9- month, 6% note on August 1, how much interest expense would be incurred by December 31?
Interest expense
$
The cash register total including sales taxes is $51,450, and the sales tax rate is 5%. What is the sales taxes payable?
Sales taxes payable
$
If $67,500 is collected in advance on November 1 for 6-month magazine subscriptions, what amount of subscription revenue should be recognized on December 31?
Subscription revenue
$
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