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 $98,040,9-$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 $63,000,$ and the sales tax rate is $5\%.$ What is the sales taxes payable?

Sales taxes payable $$

If $60,120$ is collected in advance on November $1$ for $6-$month magazine subscriptions, what amount of subscription revenue should

be recognized by December $31?$

Subscription revenue $$