Exerclse $15-6($Algo$)$ Finance lease; lessee $[$LO$15-2]$

Menulacturers Southern leased high$-$tech electionic equipment from Edson Leasing on Janusry $1,2024.$ Edison purchased the

equlpment from International Machines at a cost of $$117,772$

Melated Infornation:

vease tere

Quarterits $2$ years $(8$ quarterly periods$)$

Quarterly rental payments. I $25,$ see at the beginning of each period

Eeonchie life of anset $2$ years

Fair value of asset $,$ I $117,772$

Inplicit interest rate $($A$1$so

rate$)$

os

Aeculred:

Prepare a lease amortization schedule and appropriate entries for Manufacturers Southern from the beginning of the lease through

January $1,2025.$ Amortization is recorded at the end of each fiscal year $($December $37)$ on a straight$-$line bas's.

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

Prepare a lease amortication achedele for the term of the lease for Manufacturera Southern.

Note: Round your Intermedate calculations and final answers to the nearest whele dellar, Enter all amounts as positive

values.