Car loan - help appreciated

[BruceG]

Hey all,

	I am trying to set up a car loan in GnuCash, and would like some help. My 
first payment was 6/19/2002, but I would prefer to start recording payments 
as of 1/19/2004 (I have my checking and credit card data from January 
forward, so would like to do the same with loans).

	The Original loan was for 12,527.40 @ 7.99% APR starting on 6/19/2002. As of 
December 2003 it looked like this:

	8,892.00, loan amount owed
	7.99% apr
	40 payments left
	payment amount = 253.95 per month

	The bank had a skip a payment month in January (not really a favor, I think 
that just piles on interest), so to record payments in GnuCash I would record 
payments of 253.95 on 2/12, 3/11, 4/12, 5/10, 6/11, 7/12, 8/19, 9/17.

	I think I would do the following, but am not sure:
	Set up a fixed asset = Toyota Corolla (with 0 value? or blue book value? The 
amount I owe is pretty close to it's blue book - so they wash each other 
out).

	Set up a liability account? This would be my BB&T loan noted above
	I would not record the down payment, as that was in 6/2002 (and blue book is 
the same as amount owed).

	Payments     - would they get credited to BB&T loan?
	Interest        - would that be a separate expense account?
	Amortization - would that go towards the asset? 
	And would I set up a split payment of interest / amortization - or does the 
druid handle that?

	I tried following through the Druid, but must have missed a step somewhere. 
Any help would be appreciated.