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Baillie Power leased high - tech electronic equipment from Courtney Leasing on January 1 , 2 0 2 4 . Courtney purchased the equipment from

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 $254,500, its fair value.
Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, FVA 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 31,2024. December 31 is the fiscal year end for each company. Appropriate adjusting entries are recorded at the end of each quarter.
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