American Food Services, Inc., leased a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2018. The lease agreement for the $4.2 miion (fair value and present value of the lease payments) machine specified four equal payments at the end of each year. The useful life of the machine was expected to be four years with no residual value. Barton and Barton's implicit interest rate was 9%. (FV of $1. PV Of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use approprlate factor(s) from the tables provided.) 714 Required: 1. Prepare the journal entry for American Food Services at the beginning of the lease on January 1, 2018 2. Prepare an amortization schedule for the four-year term of the lease 3. & 4. Prepare the approprlate entries related to the lease on December 31, 2018 and 2020 points eBook Complete this question by entering your answers in the tabs below Hint Req 1 Req 2 Req 3 and 4 Print Prepare the journal entry for American Food Services at the beginning of the lease on January 1, 2018. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Enter your answers in whole dollars and not in millions.) References View transaction list Journal entry worksheet Record beginning of the lease for American Food Services Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2018