Which of the following is true?

		a. Not all goods and services are subject to sales tax in Pennsylvania.
		b. Sales tax is imposed on sellers, not the customers of the seller.
		c. The state cannot require sellers to collect sales tax due on the goods and services they sell.
		d. All the above are true.

The amount of interest that is due to be paid at maturity on a $24,000 face value, 1-year promissory note bearing 5% annual interest is:

		a. $ 40
		b. $ 100
		c. $ 1,200
		d. $ 480
		e. $ 120

A 6-month promissory note bearing 6% annual interest was issued on October 31, 2019. The entire amount borrowed plus the total amount of interest is due to be paid in a lump sum on the due date, April 30, 2020. Which of the following statements is True?

		a. The total amount of interest on the note will be reported as a 2019 expense.
		b. The total amount of interest on the note will be reported as a 2020 expense.
		c. The total amount of interest on the note will be reported in part in 2019 and 2020.

On October 1, 2019 a company borrowed $12,000 signing 1-year simple promissory note bearing annual interest of 5%. How much interest on this loan would be expensed for the year of 2019?

		a. $150
		b. $ 60
		c. $ 100
		d. $ 600
		e. $ 0