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 $250,000, 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 2 years (8 quarterly periods) $15,000 on January 1, 2024, and on March 31, June 30, September 30, and December 31 thereafter Interest rate charged by the lessor 5 8% years Quarterly lease payments 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. Answer is complete but not entirely correct. 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 Decrease Lease Interest in Balance Balance $ 112,080 01/01/2024 $ 15,000 $ 1,942 $ 13,058 x 97,080 03/31/2024 15,000 1,680 84,021 13,059 06/30/2024 15,000 1,414 x 13,586 (527) 09/30/2024 15,000 1,142 x 13,858 (14,385) 12/31/2024 15,000 865 14,135 (28,520) 03/31/2024 15,000 (570) 06/30/2025 09/30/2025 Total 0 $ 0 < Amortization Schedule General Journal >