Question#$1$: Answer the following questions:

$1.$ If cash is borrowed on a $$50,000,6-$month, $12\%$ note on September $1,$ how

much interest expense would be incurred by December $31?$

$2.$ The cash register total including sales taxes is $$23,320,$ and the sales tax rate

is $6\%.$ What is the sales taxes payable?

$3.$ If $$15,000$ is collected in advance on November $1$ for $3$ months$$ rent, what

amount of rent revenue should be recognized by December $31$