TOE Worrect You and several classmates are studying for the next accounting examination. They ask you to answer the following questions: 1. If cash is borrowed on a $60,000, 9-month, 10% note on August 1. how much interest expense would be incurred by December 317 2 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? $ eTextbook and Media Save for Later Attempts: 1 of 5 used Subinit Answer