How do I calculate the interest expense and payable?

I multiplied 22,200 by 0.12 which totaled to 2664

2664 is incorrect and 2640 is an incorrect typo.

Question 4 of 40 0.89/1 E View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. Sheridan Computer Services began operations in July 2020. At the end of the month, the company prepares monthly financial statements. It has the following information for the month. 1. 1 2. At July 31, the company owed employees $1,800 in salaries that the company will pay in August. On July 1, the company borrowed $22,200 from a local bank on a 10-year note. The annual interest rate is 12% Service revenue unrecorded in July totaled $2,400. 3. Prepare the adjusting entries needed at July 31, 2020. (Round answers to decimal places, e.g. 125. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit No. Date Account Titles and Explanation 1. July 31 Salaries and Wages Expense 1800 Salaries and Wages Payable 1800 (To record accrued salaries) 2. July 31 Interest Expense 2640 2640 Interest Payable (To record accrued interest) 3. July 31 Accounts Receivable 2400 2400 Service Revenue (To record revenue for service provided) e Textbook and Media List of Accounts Save for Later Attempts: 2 of 3 used Submit