Lease Amortization Schedule Interest on Reduction of Balance of Annual Date Lease Payment Unpaid Obligation Juli /20 Lease Obligation Lease Obligation $420,000 93,207 $325,793 $ 126,807 Jun 30/21 Jun 30/22 $ 33,600 126,807 26,143 100,664 226,129 Required: 1) Prepare all the necessary entries according to the lease amortization schedule. 2)Comment on the nature of the lease from the perspective of lessee and lessor. I Page Break