Jenseng Inc. issues a $10-$year mortgage loan on December $31,2022$ with the

following information:

Mortgage loan amount

Annual interest rate

Loan term in years

Annual installment payment

$ $130,196$

Student Work Area

Required: Provide input into cells shaded in yellow in this template. Use the PMT function

with cell references in part a to the Problem area. Input cell references in parts b and c$.$ In part

$c,$ use mathematical formulas with cell references to the Problem area to calculate both debit

amounts, and a cell reference to the Cash amount you calculated in part a$.$

a$.$ Verify the annual mortgage payment amount using Excel's PMT function.

Verification of payment using PMT

b$.$ Record the journal entry for mortgage loan on December $31,2022.$

c$.$ Record the journal entry for the first installment payment on December $31,2023.$ask a expert