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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 $254,000,

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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 $254,000, its fair value. (FV of \$1, PV of \$1, FVA of $1, PVA of $1. FVAD of $1 and PVAD of $1 ) (Use appropriate factor(s) from the tables provided.) 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. Complete this question by entering your answers in the tabs below. Prepare a lease amortization schedule for the term of the lease for Grichuk Power from the commencement of the lease through December 31,2018 . December 31 is the fiscal year end for each company. (Enter all amounts as positive values.)

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