Check my work 1 Glen Pool Club, Inc., has an installment loan outstanding with a current balance of $151,000. The company makes monthly installments of $1,553, which include interest computed at an annual rate of 6 percent. 10 points a. Prepare a partial amortization table showing (1) the original balance of this loan, and (2) the allocation of the first two monthly payments between interest expense and the reduction in the loan's unpaid balance. b. Prepare the journal entry to record the second monthly payment. c. Will monthly interest increase, decrease, or stay the same over the life of the loan? Skipped Complete this question by entering your answers in the tabs below. eBook Complete this question by entering your answers in the tabs below. Required A Required B Required C 10 points Skipped Prepare a partial amortization table showing (1) the original balance of this loan, and (2) the allocation of the first two monthly payments between interest expense and the reduction in the loan's unpaid balance. (Enter all amounts as positive numbers. Round your answers to the nearest dollar amount.) eBook Amortization Table Print Monthly Payment Interest Expense Reduction in Unpaid Balance Unpaid Balance Monthly Interest Period Original balance 1 References 2 Required A Required B > Complete this question by entering your answers in the tabs below. Required A Required B Required C 10 points Skipped Prepare the journal entry to record the second monthly payment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest dollar amount.) eBook View transaction list Print References Journal entry worksheet