You and several classmates are studying for the next accounting exam. They ask you to answer the following questions:

If cash is borrowed on a $$60,000,10-$month, $10\%$ note on August $1,$ how much interest expense would be incurred by December $31?$

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

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