Briet Exercise 111 (Part Level Submission) Hughey Co. as lessee records a finance lease of machinery on January 1, 2018. The seven annual lease payments of $701,600 are made at the end of each year. The present value of the lease payments at 10% is $3,409,300. Hughey uses the effective-interest method of amortization and sum-of-the-years'-digits depreciation (no residual value). (a) Prepare an amortization table for 2018 and 2019. (Round answers to o decimal places e.g. 5,275.) Hughey Co. Lease Amortization Schedule Annual Lease Interest on Reduction in Receipt/Payment Receivable/Liability Receivable/Liability Date Lease Receivable/Liability 1/1/18 12/31/18 12/31/19