Glen Pool Club, Inc., has an installment loan outstanding with a current balance of $147,000. The company makes monthly installments of $1,512, 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 B Required C 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 Period Monthly Payment Interest Expense Reduction in Unpaid Unpaid Balance Journal entry worksheet Balance Original balance 1 2 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 Record second monthly installment on mortgage payable. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal