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Baillie Power leased high tech electronic equipment from Courtney L easing on January 1. 2021. Courtney purchased the equipment from Doane Machines at a cost
Baillie Power leased high tech electronic equipment from Courtney L easing on January 1. 2021. Courtney purchased the equipment from Doane Machines at a cost of $260,000, its fair value. (IV of \$1. PV of \$1. IVA of \$1. PVA of \$1. IVAD of \$5 and PVAD of Lil) (Use appropriate factor(s) from the rables provided.) Required: Prepare a lease amoitization schedule and appropriate entries for Ballle Power from the beginning of the lease through December 31. 2021. December 31 is the fiscal year end for each company. Appropriate adjusting entries are recorded at the end of each quarter. Prepare a lease amortization schedule. (Round your interimediate calculations amd final answers to the nieares Enter all amounts as positive values.) Record the appropriate adjusting entries at the end of each quarter for Balllie Power from the commencement of the lease through January 1, 2021. December 31 is the fiscal year end for each company. (If no entry is required for a transaction/event, select "No journal entry required" in the fist account fleld. Round your intermedlate calculations and final answers to the nearest whole dollar.) Show less A Journal entry worksheet
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