Accounting for Leases On July 1, 2017, Shroff Company leased a warehouse building under a 20-year lease agreement. The lease requires quarterly lease payments of S5500. The first lease payment is due on September 30, 2017, The lease was reported as a capital lease using a 4% annual interest rate. Required a. Prepare a financial statement effects template to show the effects of recording the initial signing of the lase on July 1, 2017 and the necessary entries on September 30 and December 31, 2017. Balance Sheet Noncash Assets Contra- Liabilities Assets Contrib. Transaction Cash Asset Capital 7/1/17 Signed a capital lease 9/3017 Depreciation on leased asset 9/30/17 Made quarterly lease payment 12/31/17 Depreciation on leased asset 12/31/17 Made quarterly lease payment