education.com/ext/map/index.html?_con.con&external browser Olaunchulahttps%253A%252F%252Fims.meducation.com%252Fmghmiddleware%252Fmhep Q y MindTapCengage ProConnect Tax Home | Chegg.com Dachboard Man Applicant Console All Files | Powered O Coinbase-Buy/Sell Soved Help Save & Exit Subr Southern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2021. Other information: Lease term Annual payments Life of asset Implicit interest rate PV, annuity due, 5 periods, 7% PV, ordinary annuity, 5 periods, 7% 5 years $42,000 on January 1 each year 5 years 7% 4.3872 4.1002 There is no expected residual value. Required: Prepare appropriate journal entries for Southern Edison for 2021 and 2022. Assume straight-line amortization and a December 31 year-end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate and final answers to the nearest whole dollar.)