equipment from International Machines at a cost of $$139,107.$

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Related Information:

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 $1,2025.$ Edison's fiscal year ends December $31.$

Complete this question by entering your answers in the tabs below.

Amortization Schedule

General

Journal

Prepare a lease amortization schedule for Edison Leasing from the beginning of the lease through January $1,2025.$ Edison's fiscal year ends December $31.$

Note: Round your intermediate and final answers to the nearest whole dollar. Enter all amounts as positive values.

$\backslash$table$[[$Payment Date,$\backslash$table$[[$Lease$],[$Payments$]],\backslash$table$[[$Effective$],[$Interest$]],\backslash$table$[[$Decrease in$],[$Balance$]],$Lease Balance$],[\frac{01}{01}\frac{?}{2024},,,,],[\frac{01}{01}\frac{?}{2024},,,,],[\frac{04}{01}\frac{?}{2024},,,,],[\frac{07}{01}\frac{?}{2024},,,,],[\frac{10}{01}\frac{?}{2024},,,,]]$