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 $114,321. (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	$15,300 at the beginning of each period
Economic life of asset	2 years
Fair value of asset	$114,321
Implicit interest rate	8%
(Also lessees 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. Edisons fiscal year ends December 31.

1	January 01, 2021	Cash(Wrong)	114,321
		Lease payable(Wrong)		114,321
2	January 01, 2021	Lease payable(Wrong)	15,300(Wrong)
		Cash(Wrong)		15,300(Wrong)
3	April 01, 2021	Lease payable(Wrong)	13,320(Wrong)
		Interest expense(Wrong)	1,980(Wrong)
		Cash(Wrong)		15,300(Wrong)
4	July 01, 2021	Lease payable(Wrong)	13,586(Wrong)
		Interest expense(Wrong)	1,714(Wrong)
		Cash(Wrong)		15,300(Wrong)
5	October 01, 2021	Lease payable(Wrong)	13,858(Wrong)
		Interest expense(Wrong)	1,442(Wrong)
		Cash(Wrong)		15,300(Wrong)
6	December 31, 2021	Depreciation expense(Wrong)	57,161(Wrong)
		Accumulated depreciation(Wrong)		57,161(Wrong)
7	January 01, 2022	Interest expense(Wrong)	1,165(Wrong)
		Interest payable(Wrong)		1,165

This was my first try the ones that do not have (Wrong) are correct