Enter bills is for short term kind of things, you get the elect bill and will pay it later, that is when you use enter bills.
A loan is a liability, not an account payable. Assuming you got the amount in cash or deposited to your bank account, it sounds more like you have a line of credit since you say it for 12-34K.
Amortization schedule is just an info copy of how your payment will be applied assuming you make that payment on a certain day. It does not get entered in the accounting. There is no depreciation on a loan, depreciation is only allowed on fixed assets, something you buy that is high dollar and will last a long time.
If this is a line of credit, I prefer to create a CC type account named for the LOC. Then when you draw money from the LOC you use enter CC charges. And when you make a payment you pay the CC LOC just as you would any other CC debt. Using a CC account also makes it a lot easier to enter interest charged and reconcile the account with the statement.
If you got the cash, a fixed amount, create a liability account named for the loan, then make a deposit to the bank and use that long term liability account as the source account for the deposit.
Journal entries should be the exception when using QB, they often do not work as you think they should, and when you use inventory type items they never work for inventory. It is much better to use the forms on the home page the way QB is designed to be used. Journal entries also bypass accrual/cash reporting, and will not show on many reports.
So to fix this, delete all entries you have made, then depending on whether it is a loan or an LOC set it up as I explained
