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Please help.... You and several classmates are studying for the next accounting exam. They ask you to answer the following questions. 1. If cash is

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You and several classmates are studying for the next accounting exam. They ask you to answer the following questions. 1. If cash is borrowed on a $80,000, 9-month, 6% note on August 1 , how much interest expense would be incurred by December 31 ? Interest expense $ 2. The cash register total including sales taxes is $53,000, and the sales tax rate is 6%. What is the sales taxes payable? Sales taxes payable $ 3. If $51,000 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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