Exercise 15-18 (Algo) Short-term lease (LO15-5) Chance Enterprises leased equipment from Third Bank Leasing on January 1, 2021. Chance elected the short-term lease option. Appropriate adjusting entries are made annually. Related Information: Lease tern 1 year (12 monthly periods) Monthly lease payments $66,000 at Jan. 1, 2021, through Dec. 1, 2021. Economic life of asset 5 years Interest rate charged by the lesson Required: Prepare appropriate entries for Chance from the beginning of the lease through April 1, 2021. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet Check my wol Prepare appropriate entries for Chance from the beginning of the lease through April 1, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet Record the beginning of the lease for Chance. Note: Enter debts before credits General Journal Debit Credit Date January 01, 2021