Jestion Industries purchased a supply of electronic components from Sunshine Corporation on October 31, 2021. In payment for the $1,080,000 million purchase, Jestion a 1-year installment note to be paid in equal monthly payments of $95.957 at the end of each month. The payments include interest at the rate of 12%. What is the amount of interest expense that Jestion will report in its income statement for the year ended December 31, 2021? 

(Do not odd dollar sign do not add comma by yourself to your amount round the answer to the whole number) 

Answer rating: 100% (QA)

Repayment schedule is as follows Month Monthly Principal Paid Rs Monthly Interest Paid Rs ... View the full answer