Company A sells a machine to Company B on September 1 for $27,000. The down payment to be paid by Company B is $3,000. Company B must pay monthly minimum payments of $265. 12% interest rate per annum on the unpaid balance is deducted from each payment and the balance is applied to reduce the principal outstanding. Company B makes the following payments to Company A: October 1 November 1 December 1 January 2 $ 265 $265 $ 600 $ 265 Prepare a partial amortization schedule in order to answer the following question. In preparing an amortization schedule, what is the amount of interest paid for December