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 $67,200, 11-month, 10% note on August 1. how much interest expense would be incurred by December 31? 2. The cash register total including sales taxes is $46,410, and the sales tax rate is 5%. What is the sales taxes payable? $ 3. If $46,410 is collected in advance on November 1 for 6-month magazine subscriptions, what amount of subscription revenue should be recognized on December 31? I