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 $255,500, 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) Related Information: Lease term Quarterly lease payments Economic life of asset Interest rate charged by the lessor Required: years (8 quarterly periods) 2 $20,500 on January 1, 2024, and on March 31, June 30, September 30, and December 31 thereafter 5 8% years 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. Complete this question by entering your answers in the tabs below. Amortization Schedule General Journal Prepare a lease amortization schedule. Note: Round your intermediate calculations and final answers to the nearest whole dollar. Enter all amounts as positive values. Payment Date Lease Payments Effective Interest Decrease in Lease Balance Balance 01/01/2024 03/31/2024 06/30/2024 09/30/2024 12/31/2024 03/31/2025 06/30/2025 09/30/2025 Total < Amortization Schedule General Journal > Record the appropriate adjusting entries at the end of each quarter for Baillie Power from the commencement of the lease through January 1, 2024. December 31 is the fiscal year end for each company. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 2 3 4 5 6 7 8 9 10 Record the beginning of the lease for Baillie Power. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit Show less Journal entry worksheet < 1 2 3 4 5 6 7 8 9 10 Record the quarterly lease payment made by Baillie Power. Note: Enter debits before credits. Journal entry worksheet 1 2 3 4 5 6 7 8 9 Record the quarterly lease payment made by Baillie Power. Note: Enter debits before credits. 10 10 > Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 > Record the amortization for Baillie Power. Note: Enter debits before credits. Journal entry worksheet < 1 2 3 4 5 10 678 9 10 Record the quarterly lease payment made by Baillie Power. Note: Enter debits before credits. Journal entry worksheet 1 2 3 45 6 7 8 9 10 Record the amortization for Baillie Power. Note: Enter debits before credits. 456 Journal entry worksheet < 1 2 3 7 Record the quarterly lease payment made by Baillie Power. Note: Enter debits before credits. 8 9 10 10 > Journal entry worksheet < 1 2 3 4 5 6 7 8 9 10 > Record the amortization for Baillie Power. Note: Enter debits before credits. Journal entry worksheet < 1 2 3 4 5 6 7 8 9 10 > Record the quarterly lease payment made by Baillie Power. Note: Enter debits before credits. Journal entry worksheet 1 2 3 456 7 8 9 10 > Record the amortization for Baillie Power. Note: Enter debits before credits.