a 8 . On January 1 of Year 1, Lansing Leasing leased equipment to a lessee for an eight-year term during which $59,139 is payable each January 1, starting on January 1 of Year 1. The guaranteed residual value of the equipment at the end of the lease term is $41,000. The interest rate implicit in the lease is 6%. The accounting period for the lessor ends on December 31. The lessor manufactured the equipment at a cost of $380,000 and the fair value at commencement of the lease was $415,000. Required a. Show how the lessor computed the annual payment of $59,139, b. What type of lease is this to the lessor? c. Prepare a lease receivable schedule for the lessor for the first two years of the lease term. d. Provide journal entries for the lessor and January 1 and December 31 of Year 1 and Year 2. e. What balances (account titles and amounts) appear on the lessor's balance sheet on December 31 of Year 1 related to the lease? f. What balances (account tities and amounts) appear on the lessor's income statement for Year 1 related to the lease? (9) Cambridge Business Publishers