Kyle Company as LESSEE records an operating lease of machinery on January 1, 2018. The three annual lease cash payments of S40,000 are made at the END of each year. Compute the present value of the lease payments at 5%. Complete the following amortization table for the years 2018 to 2020. There is no residual. Date Interest Cash Paid Reduction of Lease Liability Liability 12/31/18 12/31/19 12/31/20 Beginning of the year entries: January 1, 2018 January 1, 2018 End of year entries: Dec. 31, 2018 Dec, 31, 2018