$5.$ The following facts pertain to a non$-$cancelable lease agreement between Google Company $($Lessor$)$ and Pepsi Company $($Lessee$).$

Commencement date January $1,2020$

Annual lease payment due at the beginning of each year, beginning with January $1,2020.$ $$20,178\mathrm{.}53$

Residual value of the equipment at the end of the lease term, guaranteed by the lessee $$8,000$

Expected residual value of the equipment at the end of the lease term $$3,000$

Lease term $5$ years

Economic life of leased equipment $5$ years

Lessor$$s cost $$85,000$

Fair value of asset at January $1,2020$ $$100,000$

Lessee$$s incremental borrowing rate $4\%$

Lessor$$s implicit rate known by Lessee $4\%$

The collectability of the lease payments by Google Company is probable. Yes

Lessee$$s method of depreciation Straight line basis for all assets

a$.$ Compute the amount of the lease receivable for Google Company $($Lessor$)$ at commencement of the lease and prepare a journal entry to record it on the Lessor books. $(5$ pts$)$

b$.$ Prepare a lease amortization schedule for the Lessor $(5$ pts$)$

c$.$ Prepare a journal entry on the Lessor$$s books to record receipt of the third lease payment in $2022(5$ pts$)$

d$.$ Prepare a journal entry on the Lessor$$s books to record the interest revenue in $2023(5$ pts$)$

e$.$ Compute the lease liability for Pepsi Company $($the Lessee$).(5$ pts$)$