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Sterling Company signed a $120,000, 90-day, 10% note when it purchased items from another company on December 1, 2019. How much interest expense should be

Sterling Company signed a $120,000, 90-day, 10% note when it purchased items from another company on December 1, 2019. How much interest expense should be accrued on December 31, 2019 (closest to)? Group of answer choices

$12,000

$2,959

$986

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