Function: PMT; Formula: Subtract, Multiply; Cell referencing Using Excel to Calculate Loan Payments and Prepare Entries for Long-Term Student Work Area Notes Payable Required: Provide input into cells shaded in yellow in this template. Use the PMT function PROBLEM with cell references to the Problem area and use mathematical formulas with cell Jenseng Inc. issues a 10-year mortgage loan to obtain financing on a new references to the Problem area or work area as indicated for transactions. building on December 31, 2022 with the following information: Mortgage loan amount $ 800,000 Annual interest rate 10% Verification of payment using PMT Loan term in years 10 Annual installment payment 130,196 Partial amortization schedule to aid in journal entries: Interest Cash Interest Reduction of Principal Verify the annual mortgage payment amount using Excel's PMT function. Period Payment Expense Principal Balance Prepare the entry to record the mortgage loan on December 31, 2022, and Dec. 31, 22 the first installment payment Dec. 31, 23 $ on December 31, 2023. Date Debit Credit 12/31/22 12/31/23