You purchase a building on January 1, 2020 that costs $250,000 and pay for this purchase by paying 20% down and taking out a mortgage on the balance. This loan carries interest at 4% and will be paid monthly over 30 years. Requirements: 1. Create an Amortization in Excel that includes the following: 1. Calculate the monthly payment using the PMT function in Excel. 2. Setup the amortization schedule in Excel, including labeling the headers and listing all the payment dates. Don't forget to adjust for monthly payments! 3. Hard-key all of the given info listed above. All other amounts in the amortization schedule should be formulas and cell references (don't forget the $ to make Absolute Cell References!) 4. Make sure your notes payable balance is $0 at the end of all required payments (or within a few cents). 2. At the bottom of your Excel document (below the amortization schedule), include the following: 1. Journal Entry for the purchase of the building on 1/1/20. 2. Journal Entry for the first payment on 2/1/20 3. Journal entry for the second payment on 3/1/20 4. For the December 31, 2020 financial statements, determine: 1 1. Account & Amount in Current Liabilities 2. Account & Amount in Long-Term Liabilities 3. Account & Amount in Income Statement