Che Baillie Power leased high-tech electronic equipment from Courtney Leasing on January 1, 2021. Courtney purchased the equipment from Doane Machines at a cost of $257,000, its fair value. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Related Information: Lease term Quarterly lease payments Economic life of asset Interest rate charged by the lessor 2 years (8 quarterly periods) $22,000 at Jan. 1, 2021, and at Mar. 31, June 30, Sept. 30, and Dec. 31 thereafter 5 years 12% Required: Prepare a lease amortization schedule and appropriate ntries for Baillie 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. es Complete this question by entering your answers in the tabs below. Amort Schedule General Journal Prepare a lease amortization schedule. (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 Balance Lease Balance Amort Schedule General Journal Prepare a lease amortization schedule. (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 Balance Lease Balance $ 257,000 235,000 01/01/2021 0 22,000 22,000 22,000 03/31/2021 06/30/2021 09/30/2021 12/31/2021 03/31/2022 06/30/2022 09/30/2022 Total $ 44,000 $ 7,752 $ 22,000 Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 pok Record the beginning of the lease for Baillie Power. mt ht Note: Enter debits before credits. nces Date General Journal Debit Credit January 01, 2021 Record entry Clear entry View general journal Journal entry worksheet 1 3 4 5 6 7 8 9 10 Record the quarterly lease payment made by Baillie Power. Note: Enter debits before credits. es Date General Journal Debit Credit January 01, 2021 Record entry Clear entry View general journal Dr. 2 of 3 Nevt Journal entry worksheet Journal entry worksheet 1 2 3 5 6 7 8 9 10 Record amortization of the right-of-use asset for Baillie Power. Note: Enter debits before credits. Date General Journal Debit Credit March 31, 2021 Record entry Clear entry View general journal Prey 2 of 3 Next TI ntry 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. Date General Journal Debit Credit June 30, 2021 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 Gm 7 8 9 10 Record amortization of the right-of-use asset for Baillie Power. Note: Enter debits before credits. Date General Journal Debit Credit June 30, 2021 Record entry Clear entry View general journal 2 3 4 5 6 8 9 10 Record the quarterly lease payment made by Baillie Power. Note: Enter debits before credits. Date General Journal Debit Credit September 30, 2021 Record entry Clear entry View general journal 1 2 3 4 5 7 10 Record amortization of the right-of-use asset for Baillie Power. Note: Enter debits before credits. Date General Journal Debit Credit September 30, 2021 Record entry Clear entry View general journal entry worksheet 1 2 3 4 5 7 10 Record the quarterly lease payment made by Baillie Power. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 8 9 19, Record amortization of the right-of-use asset for Baillie Power. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general journal