If cash is borrowed on a 55200 9 month 10 note on august 1...

If cash is borrowed on a $55,200, 9-month, 10% note on August 1, how much interest expense would be incurred by December 31?2. The cash register total including sales taxes is $45,990, and the sales tax rate is 5%. What is the sales taxes payable?3. If $45,990 is collected in advance on November 1 for 5-month magazine subscriptions, what amount of subscription revenue should be recognized on December 31?

The Yankel Corporation's controller prepares adjusting entries only at the end of the fiscal year. the following adjusting entries were prepared on December 31,2024. General Journal debit credit interest expenses 2,050 interest payable 2,050 insurance expenses 82,000 prepaid insurance 82,000 interest receivable 4,100 interest revenue 4,100 additional information: 1. the company borrowed 41,000 on June 30,2024. Principal and interest are due on June 30,2025. This note is the companys' only interest-bearing debt. 2.Insurance for the year on the company's office building is 123,000. the insurance is paid in advance. 3. On August 31,2024, Yankel lent money to a customer. the customer signed a note with principal and interest at 6% due in one year. required: 1. what is the interest rate on the company's note payable 2. the 2024 insurance payment was made at the beginning of which month 3. how much did Yankel lend its customer on August 31.

Aparna S.

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