Edison Leasing leased high$-$tech electronic equipment to Manufacturers Southern on January $1,2024.$ Edison purchased the equipment from International Machines at a cost of $$131,379.$

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:$$Lease term$2$years $(8$ quarterly periods$)$Quarterly rental payments$ $17,000$at the beginning of each periodEconomic life of asset$2$yearsFair value of asset$ $131,379$Implicit interest rate $($Also lessee$$s incremental borrowing rate$)4\%$

Required:

Prepare a lease amortization schedule and appropriate entries for Edison Leasing from the beginning of the lease through January $1,2025.$ Edison$$s fiscal year ends December $31.$