Lakeland Company leased equipment from Edgewood Leasing on January 1, 2018.

Other information:
Lease term	3 years
Annual payments	$43,000 on January 1 each year
Life of asset	3 years
Implicit interest rate	10%
PV, annuity due, 3 periods, 10%	2.7355
PV, ordinary annuity, 3 periods, 10%	2.4869

There is no expected residual value. Required: Prepare appropriate journal entries for Lakeland for 2018 and 2019. Assume straight-line amortization and a December 31 year-end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amounts.)

1. Record the lease on 1/1/2018

2. Record cash payment on 1/1/2018

3. Record the interest expense 12/31/2018

4. Record the amortization expense 12/31/2018

5. Record lease payment 1/1/2019

6. Record the interest expense 12/31/2019

7. Record the amortization expense 12/31/2019