Can someone please help me solve this and go into detail on the "interest expense" part? I do not understand that at all. thanks!

Tamarisk Corporation borrowed $88,000 on November 1,2025 , by signing a $89,980, 3-month, zero-interest-bearing note. Prepare Tamarisk's November 1, 2025, entry; the December 31, 2025, annual adjusting entry; and the February 1, 2026, entry. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)