Exercise 10.6 (Algo) Use of an Amortization Table (L010-4) Glen Pool Club, Inc., has an installment loan outstanding with a current balance of $141,000. The company makes monthly installments of $1.450, which include interest computed at an annual rate of 6 percent. 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? Complete this question by entering your answers in the tabs below. Required A Required e Required 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.) Amortization Table Monthly interest Reduction in Unpaid Period Monthly Payment Interest Expense Unpaid Balance Original balance Balance 1 2 Complete this question by entering your answers in the tabs below. Required A Required B Required 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.) View transaction list Journal entry worksheet Record entry Pro 1 of 3 MC Gra o Required A Required B Required C Will monthly interest increase, decrease, or stay the same over the life of the loan? Monthly interest will over the life of the loan