Exercise $15-16($Static$)$ Lessee; operating lease $[$L$015-4]$

Baillie Power leased high$-$tech electronic equipment from Courtney Leasing on January $1,2024.$ Courtney purchased the equipmen

from Doane Machines at a cost of $$250,000,$ its fair value.

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)$

Required:

Prepare a lease amortization schedule and appropriate entries for Baillie Power from the beginning of the lease through December

December $31$ is the fiscal year end for each company. Appropriate adjusting entries are recorded at the end of each quarter.

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Amortization

Schedule

General

Journal

Prepare appropriate entries for Baillie Power from the beginning of the lease through December $31,2024.$ December $31$ is the

fiscal year end for each company. Appropriate adjusting entries are recorded at the end of each quarter.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Round your

intermediate calculations and final answers to the nearest whole dollar.