Please help me with the correct answer. Your answer is incorrect. Try again. 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 $54,000, 9-month, 10% note on August 1, how much interest expense would be incurred by December 31? $Entry field with incorrect answer 40950 2. The cash register total including sales taxes is $46,515, and the sales tax rate is 5%. What is the sales taxes payable? $Entry field with incorrect answer 1950 3. If $46,515 is collected in advance on November 1 for 7-month magazine subscriptions, what amount of subscription revenue should be recognized on December 31? $Entry field with incorrect answer