How do I record a loan payment which includes paying both interest and principal?

1

vehicle cast 1050000/-
down payment 350000/-
loan amount 700000/-
interest 150500/- for 27months
Kindly describe which are all accounts need to create under which heads in manager

2

On the purchase of the Vehicle
Spend Money : 35,000
Assets : Fixed Asset : Vehicle 105,000
Liabilities : Loan Account : -70,000 (note minus)
Assets : Unpaid Interest : 150,500
Liabilities : Loan Account : -150,500 (note minus)

Monthly payment - Loan & Interest
Spend Money : 8,166.66
Loan Account : 8,166.66
Unpaid Interest : -5,574.07 (note minus)
P&L : Interest Paid : 5574.07

The unpaid Interest is stored in the BS Asset account and transferred to the P&L Expense account monthly.

3

Hi I found this helpful in 2014