If cash is borrowed on a $60,000, 9-month, 10% note on August 1, how much interest expense would be incurred by 1. December 31? 2. 3. The cash register total including sales taxes is $42,000, and the sales tax rate is 5%, what is the sales taxes payable? If $42,000 is collected in advance on November 1 for 6-month magazine subscriptions, what amount of subscription revenue should be recognized on December 31? $