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How do I calculate the interest expense for a non-interest bearing note

On September 1,2023 , wildhorse Ltd. purchased equipment for $43,200 by signing a two year note payable with a face value of $43,200 due on September 1,2025 . The going rate of interest for this level of risk was 9%. The company has a December 31 year end. (The tables in this problem are to be used as a reference for this problem.) Click here to view Table A.2 - PRESENT VALUE OF 1- (PRESENT VAL,UE OF A SINGLE SUM) Click here to view Table A.4 - PRESENT VALUE OF AN ORDINARY ANNUITY OF 1 (a) Your answer is correct. Calculate the cost of the equipment, where necessary using any of the three methods (tables, financial calculator, or Excel). assuming the note is as follows: (Round foctor values to 5 decimal places, e.g. 1.25124 and final arswers to 0 decimal places, eg. 5,275.) 1. An 9% interest-bearing note, with interest due each September 1. 2. A 2% interest-bearing note, with interest due each September 1. 3. A non-interest-bearing note. the equipment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem. Round answers to 0 decimal ploces, e. 5,275 .)

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