A lease agreement calls for quarterly lease payments of $6,800 over a 12-year lease term, with the first payment at July 1, the leases inception.

3. value: 2.00 points A lease agreement calls for quarterly lease payments of $6,800 over a 12-year lease term, with the first payment at July 1, the lease's inception. The interest rate is 8%. Both the fair value and the cost of the asset to the lessor are $165,000 What would be the amount of interest expense the lessee would record in conjunction with the second quarterly payment at October 1? Lease Payment crease in Outstanding balance Date July 1 July 1 October 1 Interest balance What would be the amount of interest revenue the lessor would record in conjunction with the second quarterly payment at October 1? nterest revenue