 Now last time, we talked about the loan payable and we put together our amortization table. So now we're gonna be recording payments with our amortization table. So let's just recap kind of the issues with the loans. We have a loan on the books, which helped us to finance the company, couple issues with the loans. One, there's often a short-term portion and a long-term portion when we're paying installment loans off. However, we don't typically wanna have two loan accounts, a short-term and long-term version when we're doing normal bookkeeping because it's better to have one account or easier that I can then tie into my amortization table. Otherwise, the long-term and short-term portions will differ every time. So you wanna just make an adjustment for the long-term and short-term portion periodically is my suggestion at the end of the month or a year possibly having your CPA firm help you out just to do that breakout and then reverse it so that you can then do the bookkeeping easily and have the financial statements when they're necessary, when you're gonna report them. So we'll talk about that in the adjusting process. Two, you might have multiple loan accounts in which case you could put them all in one account, but you probably want a different loan account and we'll talk more about that in a future presentation when we add another loan account and that way you can tie each loan account into its own amortization table. And then three is the breaking out of each payment. That's what we're gonna focus on here when the interest and the loan principle will differ every time. So we're gonna be looking at the first two payments. We'll actually record both of these and you can see how the payment is the same but the interest and the loan reduction or reduction to the principle will differ. So that means there's three accounts affected as opposed to two accounts when you pay like a utility bill, only cash and utilities expenses is affected. Here we're gonna have cash, interest expense and then the reduction of the loan impacted. That adds a little bit of complexity. Also, I can't really memorize the transaction whether that be through the bank feeds, creating a rule for example so I can automate the transaction or when I just record the transaction every month manually because even though the dollar amount is the same that breakout that changes between interest and principle makes it a lot more difficult to automate. So what are the workarounds to that? One is that you could try to stay in a cash-based system and so bookkeepers that are trying to scale up the business and work on a cash-based system to the degree they can might then work with a CPA firm to do adjusting entries periodically, possibly at the end of the year when tax returns are prepared or something like that and then they're just gonna record the payments and reduce the loan principle for the full amount with possibly the bank feeds. And then at the end of the year, you ask your CPA firm to say, hey, here's the amortization table or if you don't have the amortization table, hey CPA firm or tax preparer, I would like you to make the amortization table based on the loan documentation and then do the necessary adjusting entries which might be breaking out the interest and principle portion so that you could do the tax returns and the financial preparation at that time and break out the short-term and long-term portion of the loan if necessary for tax return in financial reporting at that time. That's one method you can use to try to automate everything on the bookkeeping side. The other method is we just take our amortization table which we might have to create as we did here or ask our CPA firm to create and we'll just have to change it every time in accordance with the amortization table. So that's what we'll do here to see what that looks like. So I'm just gonna highlight this first one and make it green just to say, okay, that's the first one that we're on and I'll go over here and say, all right, let's go to the first tab then and just what's gonna happen, by the way, this amount's gonna go down by the portion that is the loan reduction taking us to the new loan balance and then $300 will be interest expense on the profit and loss and then the checking account will go down by the full amount.