Function: PMT; Formula: Subtract, Multiply; Cell referencing Using Excel to Calculate Loan Payments and Prepare Entries tor Long-Term Notes Pa able PROBLEM ienseng Inc. issues a 10-year mortgage loan to obtain nancing on a new building on December 31, 2022 with the iollowing Inlormatlon: Mortgage loan amount 5 800.000 Annual interest rate 10% Loan term in years 10 Annual installment payment 130,196 Verify the annual mortgage payment amount using Excel's PMT function. Prepare the entry to record the mortgage loan on December 31, 2022, and the first installment payment on December 31, 2023. Student Work Area Required: Provide Input into cells shaded in yellow in this template. Use the PMT function with cell references to the Problem area and use mathematical formulas with cell references to the Problem area or work area as indicated for transactions. Verification of payment using PMT Partial amortization schedule to aid in journal entries: Interest Cash interest Reduction of Principal Period Payment Expense Principal Balance Dec, 31, 22 Dec. 31, 23 $ - $ . . Date Debit Credit 12/31/22 12/3 1/23