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Bailie Power leased high-tech electronic equipment from Courtney Leasing on January 1, 2021. Courtney purchased the equipment from Doane Machines at a cost of $252,500,

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Bailie Power leased high-tech electronic equipment from Courtney Leasing on January 1, 2021. Courtney purchased the equipment from Doane Machines at a cost of \$252,500, its fair value. (FV of \$1. PV of \$1. EVA of \$1. PVA. of \$1. FVAD of S1 and PVAD of Si) (Use appropriate factor(s) from the tables provided.) Required: Prepare o lease amortization schedule and appropriate entries for Bailie Power from the beginning of the leose through December 31 . 2021. December 31 is the fiscal year end for each company. Appropriate odjusting entries are recorded at the end of eoch quarter

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