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. $62,482.)

1. If cash is borrowed on a $66,800, 10-month, 10% note on August 1, how much interest expense would be incurred by December 31?

2. The cash register total including sales tax is $44,835, and the sales tax rate is 5%. What is the sales taxes payable?

3. If $44,835 is collected in advance on November 1 for 6-month magazine subscriptions, what amount of subsciptions, revenue should be recognized on December 31?