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, 11-month, 10% note on August 1, how much interest expense would be incurred by December 312 The cash register total including sales taxes is $41,790, and the sales tax rate is 5%. What is the sales taxes payable? If $41,790 is collected in advance on November 1 for 7-month magazine subscriptions, what amount of subscription revenue should be recognized on December 31? $ 3. $