Paying a loan installment: splitting interest and principal

Transaction

The company pays the monthly installment of $1,500.00 on its bank loan (a note payable) by check. Before this payment the outstanding principal was $48,000.00. The bank charges interest at 6% per year on the outstanding principal, for one month; the rest of the installment repays principal.

Assumptions: No interest has been accrued for this month before the payment.