Laura Leasing Company signs an agreement on January 1, 2020, to lease equipment to Larkspur Company. The following information relates to this agreement. 1. The term of the non-cancelable lease is 3 years with no renewal option. The equipment has an estimated economic life of 5 years. 2. The fair value of the asset at January 1, 2020, is $59,000. 3. The asset will revert to the lessor at the end of the lease term, at which time the asset is expected to have a residual value of $4,000, none of which is guaranteed. 4. The agreement requires equal annual rental payments of $19,211 to the lessor, beginning on January 1, 2020. 5. The lessees incremental borrowing rate is 5%. The lessors implicit rate is 4% and is unknown to the lessee. 6. Larkspur uses the straight-line depreciation method for all equipment. Click here to view factor tables. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.)

(A) Prepare an amortization schedule that would be suitable for the lessee for the lease term. (Round answers to 0 decimal places.

Date		Annual Lease Payment		Interest on Liability		Reduction of Lease Liability		Lease Liability

(B) Journal entries in the books of laura leasing company (Lessee)