1 Back to '6/12-12/12 Question 1 Not yet answered Marked out of 5.00 Sur Food Corp., leased machine from AL-Shroud Corp. the lease agreement for the OR 1,600,000 (fair and present value of the lease payment) machine specified four equal payments at the end of each year. The implicit interest rate was 9% Required: 1 Prepare the journal entry four Muscat Corp at the inception of the lease on January 1, 2020 2. Prepare an amortization schedule for the four-year term of the lease F Flag question Present value of an ordinary annuity of $1:n=4,i=9% is 3.23972