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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
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 $110,623. (EV of $1. PV of $1. EVA of $1. PVA of St. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Related Information Lease torn Quarterly rental payments 2 years (8 quarterly periods) $15. 300 at the beginning of each period Ecenenic life of asset 2 years Fair value of arret Implicit interest rate $110,623 12% (Also lezzee 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. Complete this question by entering your answers in the tabs below. Amort Schedule General Journal Prepare a lease amortization schedule for Edison Leasing from the beginning of the lease through January 1, 2022. Edison's fiscal year ends December 31. (Round your intermediate and final answers to the nearest whole dollar. Enter all amounts as positive values.)
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