Baillie Power leased high-tech electronic equipment from Courtney Leasing on January 1, 2024. Courtney purchaled the equipment from Doane Machines at a cost of $250,000, its fair value. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, EVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Related Information: Lease term Quarterly lease payments 2 years (8 quarterly periods) on January 1, 2024, and on March 31, June 30, September 30, and $15,000 December 31 thereafter Interest rate charged by the lessor 5 years 8% Economic life of asset 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. Amortization General Schedule Journal Prepare a lease amortization schedule. Note: Round your intermediate calculations and final answers to the nearest whole dolla values. Payment Date Lease Payments Effective Interest Decrease in Balance Lease Balance 01/01/2024 03/31/2024 06/30/2024 09/30/2024 12/31/2024 03/31/2024 06/30/2025 09/30/2025 Total $ 0 $ 0 $ FA 0