Baillie Power leased high$-$tech electronic equipment from Courtney Leasing on January $1,2024.$ Courtney purchased the equipment

from Doane Machines at a cost of $$252,500,$ its fair value.

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Required:

Prepare a lease amortization schedule and appropriate entries for Baillie Power from the beginning of the lease through December $31,$

December $31$ is the fiscal year end for each company. Appropriate adjusting entries are recorded at the end of each quarter.