You and several classmates are studying for the next accounting examination. They ask you to answer the following questions: 1. If cash is borrowed an a $54,000,9-month. 10% note on August 1 . how much interest expense would be incurred by December 31 ? 2. The cash register total including 5 ales taxes is $46,515, and the sales tax rate is 5%. What is the sales taxes payable? 3. If $46,515 is collected in advance on November 1 for 7 -month magazine subscriptions, what amount of subscription revenue should be recognized on December 31