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 $69.000, 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 $39,960, and the sales tax rate is 8%. What is the sales taxes payable? Sales taxes payable $ 3.18$69,000 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 $ Attempts:0 of 1 used