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Exercise 15-7 (Static) Sales-type lease with no selling profit; lessor (L015-2) Edison Leasing leased high-tech electronic equipment to Manufacturers Southern on January 1, 2021. Edison

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Exercise 15-7 (Static) Sales-type lease with no selling profit; lessor (L015-2) 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 $112,080. (Vor $1. Po $1. EVA. $1. PVA of S1, EVAD 01 and PVAD.0.5.1) (Use appropriate factor(s) from the tables provided.) 1 Related Information Leone term 2 years (8 quarterly period) Quarterly rental payments $15,000 at the beginning of each period Honomie life of asset 2 years Fair value of asset $112.000 taptielt interest rate 88 (Also lessons incremental borrowing rate) ce Required: Prepare a lease amortization schedule and appropriate entries for Edison Leasing from the beginning of the lease through January 2022. Edison's fiscal year ends December 31 Complete this question by entering your answers in the tabs below. Amort Schedule General Journal Prepare a lease amortization schedule for Edison Leasing from the beginning of the lease through January 1, 2022. Edison's fiscal year ends December 31. (Round your intermediate and final answers to the nearest whole dollar. Enter all amounts as positive values.) WING Check Prepare a lease amortization schedule and appropriate entries for Edison Leasing from the beginning of the lease through January 1, 2022. Edison's fiscal year ends December 31 Complete this question by entering your answers in the tabs below. Amort Schedule General Journal Prepare a lease amortization schedule for Edison Leasing from the beginning of the lease through January 1, 2022. Edison's fiscal year ends December 31. (Round your intermediate and final answers to the nearest whole dollar. Enter all amounts as positive values.) Payment Date Lease Payments Effective Interest Decrease in Balance Lease Balance 01/01/2021 01/01/2021 04/01/2021 07/01/2021 10/01/2021 01/01/2022 04/01/2022 07/01/2022 10/01/2022 Total mot General Journal > mework Part 10 Saved Help Save & E Che Schedule Journal Prepare the appropriate entries for Edison Leasing from the beginning of the lease through January 1, 2022. Edison's fiscal year ends December 31. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollars and not in millions. Round your intermediate and final answers to the nearest whale dollar.) Show less View transaction list Journal entry worksheet

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