1. Which of the following statements is not true regarding installment loan payments? a. Each period a portion of the principal is paid off. b. The payment period is usually monthly. c. Each period an entry is made to record interest expense and an increase in notes payable. d. The installment payment amount is the same each period. 2. Monthly interest is highest a. at the end of the loan period. b. at the beginning of the loan period. c. at the beginning of the month. d. at the end of the month