Question: Sterling Company signed a $ 1 2 0 , 0 0 0 , 9 0 - day, 1 0 % note when it purchased items

Sterling Company signed a $120,000,90-day, 10% note when it purchased items from another company on December 1,2024. How much interest expense should be accrued on December 31,2024(closest to)?
Sterling Company signed a $120,000,90-day, 10% note when it purchased items from another company on December 1,2024. How much interest expense should be accrued on December 31,2024(closest to)?
$12,000
$2,959
$0
$986

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