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 $61,200, 9-month, 10% note on August 1, how much interest expense would be incurred by December 31?		$enter a dollar amount
2.		The cash register total including sales taxes is $46,095, and the sales tax rate is 5%. What is the sales taxes payable?		$enter a dollar amount
3.		If $46,095 is collected in advance on November 1 for 5-month magazine subscriptions, what amount of subscription revenue should be recognized on December 31?		$enter a dollar amount

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Grouper Corp. issues $335,000 of bonds for $351,750.

(a)

Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
enter an account titleenter an account title	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount
enter an account titleenter an account title	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount
enter an account titleenter an account title	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount