Scrimiger Paints wants to upgrade its machinery and on September 20 takes out a loan from the bank in the amount of $640,000. The fer:ts of the loan are 3.14 anruat irterst rate and payable in 8 months, Interest is due in equal payments each monith. A. Compute the interest expense doe each month. If required, round final answer to two decimal places. x resabod hoheck My wak B. Show the journal entry to recognize the interest payment on October 20 , and the entry for poyment of she shait term node and final interest gaymeit on May a0 uf required, round final answers to two decimal places. If an amount bok does not requare an entry, leave it biank