Edison Leasing leased high-tech electronic equipment to Manufacturers Southern on January 1, 2021. Edison purchased the equipment from international Machines at a cost of $127,024. (FV of $1. PV of $1. FVA of $1. PVA of $1. EVAD of $1 and PVAD of 51) (Use appropriate factor(s) from the tables provided.) Related Information: Lease term 2 years ( quarterly periods) Quarterly rental payments $17.000 at the beginning of each period Economie life of asset 2 years Fair value of asset $127,024 Implicit interest rate (Also lessee's incremental borrowing rate) Required: Prepare a lease amortization schedule and appropriate entries for Edison Leasing from the beginning of the lease through January 1 2022. Edison's fiscal year ends December 31. Answer is not complete. General Journal Credit No 1 Date January 01, 2021 Equipment Lease payable Debit 127,024 % 127,024 2 17,000 January 01, 2021 Lease payable Cash 0 0 17,000 3 April 01, 2021 Interest expense Lease payable Cash 0 0 2,200 4,800 $ 1,700 July 01, 2021 Interest expense Lease payable Cash 1,904 15,096 0 0 17,000 15 0 October 01, 2021 Interest expense Lease payable Cash 1,603 15,397 0 17,000 6 1,295 December 31, 202. Interest expense Interest payable 0 1.295 January 01, 2022 Interest payable Lease payable Cash 0 0