Grichuk Power leased high-tech electronic equipment from Kolten Leasing on January 1, 2018. Kolten purchased the equipment from Wong Machines at a cost of $251,000, its fair value. (FV of $1. PV of $1, FVA of $1. PVA of $1. EVAD of $1 and PVAD of $) (Use appropriate factor(s) from the tables provided.) Related Information Lease term Quarterly lease payments Economic life of asset Interest rate charged by the 2 years (8 quarterly periode) 16,000 at Jan. 1, 2018, and at Mar. 31, June 30, Sept. 30, and Dec. 31 thereafter. 5 years lessor Required Prepare a lease amortization schedule and appropriate entries for Grichuk Power from the commencement of the lease through December 31, 2018. December 31 is the fiscal year end for each company. Appropriate adjusting entries are recorded at the end of each quarter