Hughey Co as lessee records a finance lease of machinery on January 1, 2018. The seven annual lease payments of $700,300 are made at the end of each year. The present value of the lease payments at 9% is $3,409,900. Hughey uses the effective-interest method of amortization and sum-of-the-year's-digits depreciation (no residual value).

How do I prepare the amortization table for 2018 and 2019 and journal these transactions to record the lease, the first lease payment, and to record depreciation? Round answers to 0 decimal places. Dates 1/1/18, 12/31/18, and 13/31/19.

Annual lease receipt/payment interest on receivable/liability reduction in receivable/liability lease receivable/liability