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10 Prepare a lease amortization schedule and appropriate entries for Manufacturers Southern from the beginning of the lease through January 1, 2019. Depreciation is recorded at the end of each fiscal year (December 31) on a straight-line basis. Answer is complete but not entirely correct. ints Complete this question by entering your answers in the tabs below. Amort Schedule General Journal Prepare a lease amortization schedule for the term of the lease for Manufacturers Southern from the beginning of the lease through January 1, 2019. Depreciation is recorded at the end of each fiscal year (December 31) on a straight-line basis. (Enter your answers in whole dollars and not in millions. Round your intermediate and final answers to nearest whole dollar. Enter all amounts as positive values.) Payment Date Lease Payments Effective Interest Decrease in Balance $ $ Lease Balance 119,552 103,552 89,623 75,415 60,923 $ 01/01/2018 04/01/2018 07/01/2018 10/01/2018 01/01/2019 04/01/2019 07/01/2019 10/01/2019 Total 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 128,000 0 2,071 1,792 1,508 1,218 923 621 315 8,448 $ $ $ $ $ $ $ $ $ 16,000 13,929 14,208 14,492 14,782 15,077 15,379 15,685 119,552 46,141 31,064 15,685 $ $ Coneral Journal PiedledledsedTUILIZOLIUIT Streuue dilu dpPIUilde erlies IUI MdluldClurei suullen III Le Deyirly UI ile ledse luuyil January 1, 2019. Depreciation is recorded at the end of each fiscal year (December 31) on a straight-line basis. & Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Amort Schedule General Journal Record the appropriate entries for Manufacturers Southern from the beginning of the lease through January 1, 2019. Depreciation is recorded at the end of each fiscal year (December 31) on a straight-line basis. (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 nearest whole dollar.) Show less No General Journal Credit Date January 01, 2018 Right-of-use asset Lease payable Debit 119,552 | 119,552 16,000 January 01, 2018 Lease payable Cash 16,000 April 01, 2018 Interest expense Lease payable Cash 2,071 13,929 16,000 July 01, 2018 Interest expense 1,792 10 16,000 0 January 01, 2018 Lease payable Cash 16,000/ April 11, 2018 Interest expense Lease payable Cash 2,071/ 13,9299 points 16,000 ) July 01, 2018 Interest expense Lease payable Cash 1,792/ 14,208 16,000 0 October 01, 2018 Interest expense Lease payable Cash 1,5089 14,4922 16,000 0 1 , 218 December 31, 201 Interest expense Interest payable 1 , 218 / 59,7760 December 31, 201 Amortization expense Right-of-use asset _59,7760 8 119,5528 January 01, 2019 Lease payable Interest payable Cash 314 16,000 0 10 View transaction list Journal entry worksheet nts Record lease payment. eBook Hint Note: Enter debits before credits. Credit Date January 01, 2019 Print General Journal Lease payable Interest payable Cash Debit 119,552 314 16,000 eferences Record entry Clear entry View general journal
