Moonbeam, Inc. obtains a $75,000, 6%, five- year installment loan for purchasing a new piece of equipment on January 1, 20X1. The first monthly payment of $1,450.00 is due on February 1. What amount will be recorded for interest expense for the second payment on March 1? Round your answer to the nearest cent. $375.00 $1,080.38 $376.87 None of the other answers are correct. $369.63 $ Previous Page Next Page