What is the proper recognition for deferred interest in bank loan?

The company has purchased a car worth 297,000 with a downpayment amounting to 60,000. The company has applied for a car loan to finance the remaining amount.
The loan was approved and the company has to make monthly payments for 5,790 within 48 months. Here's my entry:

Vehicle 297,000
Deferred Interest 40,920
Cash in bank 60,000.00
PDC payable 277,920.00

Is my entry above correct? How should I recognize deferred interest(liability,expense or asset acount)? Please help me. Thank you.