Question: On December 15th, a note payable is used to replace a $10,000 overdue account payable that does not bear interest. The customer agrees to pay

On December 15th, a note payable is used to replace a $10,000 overdue account payable that does not bear interest. The customer agrees to pay $3,000 cash and sign a 60-day, 15% note to replace the account payable. How much will be recorded as the interest expense on February 13th, the due date

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