I have a few problems I need help with. Which formulas would be used to figure out these numbers?
View the step-by-step solution to:

Question

# I have a few problems I need help with. Which formulas would be used to figure out these numbers? />A. If cash is borrowed on a \$61,200, 11-month, 10% note on August 1,how much interest expense would be incurred by December 31? I do not know which formula to use here?B. The cash register total including sales taxes is \$43,470, and the sales taxrate is 5%. What is the sales taxes payable? Please show how to get the correct number. C. If \$43,470 is collected in advance on November 1 for 6-month magazinesubscriptions, what amount of subscription revenue should be recognizedon December 31?

A. If cash is borrowed on a \$61,200,11-month,10% note on August 1, how much interest expense would be incurred by... View the full answer

### Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

• ### -

Study Documents

Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

Browse Documents
• ### -

Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!