Current Attempt in Progress You and several classmates are studying for the next accounting examination. They ask you to answer the following question 1. $ 2. $ If cash is borrowed on a $58,800, 10-month, 10% note on August 1, how much interest expense would be incurred by December 31? The cash register total including sales taxes is $46,725, and the sales tax rate is 5%. What is the sales taxes payable? If $46,725 is collected in advance on November 1 for 5-month magazine subscriptions, what amount of subscription revenue should be recognized on December 312 3. $