PMT, SUM; Formula: Subtract, Multiply, Divide, Cell Referencing Using Excel to Calculate Mortgage Payment, Amortization Student Work Area chedule, and Entries Required: Provide input into cells shaded in yellow in this template. Use the PMT function PROBLEM to calculate the payment and mathematical formulas with cell references to the Problem Gomez Inc. signed a mortgage payable on November 30, area and work area as indicated. 2024, with a bank to obtain financing for a new building. Installment payments are to be made at the end of each month. Information for the mortgage follows. a. Mortgage loan amount S$ 300,000 Mortgage term in years 10 Interest rate 4% b. c. Use Excel's PMT function to calculate the amount of each installment payment. Mortgage payment calculation i Prepare a partial amortization table through January 31, 2021. Monthly Interest Cash Interest Reduction of Payment Payment Expense Principal Principal Balance Nov. 30, 2024 Dec. 31, 2024 * * . 5 Jan. 31, 2024 5 Prepare the entries to record the mortgage on November 30, 2024, and the first two payments on December 31, 2024, and January 31, 2025. F 2024 Debit Credit Nov. 30 3 3 Dec. 31 bl 4 _ a F 2025 Jan. 31 bl _ _