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 $139,107. (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 2 years (8 quarterly periods) Quarterly rental payments $18,000 at the beginning of each period Economic life of asset 2 years Fair value of asset $139, 107 Implicit interest rate (Also lessee's incremental borrowing rate) 43 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. Amort Schedule General Journal Prepare a lease amortization schedule for Edison Leasing from the beginning fiscal year ends December 31. (Round your intermediate and final answers to positive values.) Payment Date Lease Payments Effective Interest Decrease in Decrease in Balance 01/01/2021 01/01/2021 $ $ $ 04/01/2021 0 1,211 1,043 874 07/01/2021 10/01/2021 Lease Balance $ 139, 107 121, 107 104,318 87,361 70,235 52,937 35,466 17,821 18,000 18,000 18,000 18,000 18,000 18,000 18,000 18,000 144,000 01/01/2022 18,000 16,789 16,957 17,126 17,298 17,471 17,645 17,821 139,107 702 529 355 04/01/2022 07/01/2022 10/01/2022 179 4,893 Total $ $ $ Amort Schedule General Journal Prepare the appropriate entries for Edison Leasing from the beginning of the lease through January 1, 2022. Edison's fiscal year ends December 31. (Enter your answers in whole dollars and not in millions. Round your intermediate and final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Show less View transaction list View journal entry worksheet Debit Credit t Record the lease. 2 Record cash received. 3 Record cash received. neral Journal > 4 Record cash received. 5 Record cash received. 6 Record accrued interest. 7 Record cash received. Note : = journal entry has been entered