Glen Pool Club, Inc., has an installment loan outstanding with a current balance of $$150,000.$ The company makes monthly installments of $$1,543,$ 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

Will monthly interest increase, decrease, or stay the same over the life of the loan?

$\backslash$table$[[,,],[$Monthly interest will,decrease,over the life of the loan$]]$

Required $C$