LabuLUT ABOLCL AGBbude EESE Subtitle Subtle Em... Styles General Question/Exercise 15-11 On January 1, 2019. the Sattler Corporation signs a 5 year noncancellable lease for a nonspecialized machine. The terms of the lease call for Sattler to pay $20,000 per year on January 1, beginning January 1, 2019. The machine has an estimated useful life of 6 years a fair value of $95.000 and an unguaranteed residual value of $10.000. The machine reverts back to the lessor at the end of the lease term. The company uses straight line depreciation and the interest rate implicit in the lease is 10%. Required 1. Identify the type of lease involved for the lessee and give reasons for your classifications 2. Prepare appropriate journal entries for 2019 and 2020 for the lessee