X Cengage X Cengage X Connect XM MHE Reax Mystic MX Calculate X C Chegg SX C Solved: x assignment/takeAssignment Main.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Pai eBook Show Me How Calculator Print Item Scrimiger Paints wants to upgrade its machinery and on September 20 takes out a loan from the bank in the amount of $630,000. The terms of the loan are 3.1% annual Interest rate and payable in 8 months. Interest is due in equal payments each month. A. Compute the interest expense due each month. If required, round final answer to two decin B. Show the journal entry to recognize the interest payment on October 20, and the entry for payment of the short-term note and final interest payment on May 20. If required, round final answers to two decimal places. If an amount box does not require an entry, leave it blank. Oct 20 May 20 Previous Next Chad My Work