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

1. If cash is borrowed on a $166,120, a 9-month, 6% note on August 1, how much interest expense would be incurred by December 31.

2. The cash register total including sales tax is $52,000, and the sales tax is 5%, What is the sales tazes payable?

3. If $54,060 is collected in advance on November 1 for 6-month magazine subscriptions, what amount of subscription revenue should be recognized by December 32?