Question 35 You and several classmates are studying for the next accounting examination. They ask you to answer the following questions: (Round answers to 0 decimal places, e.g. 125.) 1. If cash is borrowed on a $96,000, 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 $59,280, and the sales tax rate is 4%. What is the sales taxes payable? Sales taxes payable $ 3. If $61,500 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 $