Eastern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2018 Other information: Lease term Annual payments Life of asset Implicit interest rate PV, annuity due, 4 periods, 7% PV, ordinary annuity, 4 periods, 7% Hi-Tech's cost of the equipment 4 years $90,000 on January 1 each year 4 years 7% 3.6243 3.3872 $326, 187 There is no expected residual value. Required: Prepare appropriate journal entries for Hi-Tech Leasing for 2018 and 2019. Assume a December 31 year-end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amounts.) View transaction list Journal entry worksheet 4 5 N Record the entry for the interest revenue. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2018 Record entry Clear entry View general journal Journal entry worksheet >