Wiew Policies Current Attempt in Progress You and several classmates are studying for the next accounting examination. They ask you to answer the following questions: 1. 2. $ If cash is borrowed on a $66,000, 9-month, 10% note on August 1, how much interest expense would be incurred by December 31? The cash register total including sales taxes is $40,950, and the sales tax rate is 5%. What is the sales taxes payable? If $40,950 is collected in advance on November 1 for 5-month magazine subscriptions, what amount of subscription revenue should be recognized on December 31? 3. $ Save for Later Attempts: 0 of 2 used Submit