Edison Leasing leased high-tech electronic equipment to Manufacturers Southern on January 1, 2018. Edison purchased the equipment from International Machines at a cost of $110,623. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 ad PVAD of $1) (Use appropriate factor(s) from the tables provided.) Related Information: 2 years (8 quarterly periods) $15, 300 at the beginning of each period 2 years $110,623 123 Lease term Quarterly rental payments Economic life of asset Fair value of asset 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 2019. Edison's fiscal year ends December 31. Amort Journal Prepare a lease amortization schedule for Edison Leasing from the beginning of the lease through January 1, 2019 Edison's fiscal year ends December 31. (Enter your answers in whole dollars and not in millions. Round your intermediate and final answers to nearest whole dollar. Enter all amounts as positive values.) Lease Payment date Payments Lease Balance 01/01/2018 01/01/2018 04/01/2018 07/01/2018 10/01/2018 01/01/2019 04/01/2019 07/01/2019 10/01/2019 Total General Journal No Date Debit Credit 1January 01,2018 Lease receivable Equipment 2 January 01,2018 Cash Lease receivable 3April 01,2018 Cash Lease receivable Interest revenue 4July 01, 2018 Cash Lease receivable Interest revenue 5 ctober 01, 2018 Cash Lease receivable Interest revenue December 31 2018 I nterest receivable Interest revenue 7 January 01, 2019 Cash Lease receivable Interest receivable