Lease Problem BGSE Company, as lessee, enters into a 4-year lease agreement with Harris Investments on January 1, 2021, for equipment. The equipment has a useful life of 4 years. The lease contains a bargain purchase option but no transfer of ownership. Payments of $35,500 are due on January 1 of each year, beginning 1/1/21. The lessor estimates the equipment has a residual value of $7,500, which the lessee guaranteed. The lessee expects the actual value of the equipment to be $4,250 when it is returned to the lessor. The lessor used an implicit rate of 8% in computing the lease payments. Present Value factors for i=8% and n=4: Rimt - 35,500 Single Sum .73503 35,500x3.57710 =(126987.05+2500) Annuity Due 3.57710 REQUIRED: This question has 4 parts (Parts A-D). Answer each part and make sure to show all computations which support your entries. Round all amounts to the nearest dollar and you may abbreviate account names, but I must know what you are referring to Part A. Prepare all required journal entries, relating to this lease, that should be made by BGSE Company on January 1, 2021. Jan. 1.21 ROU ASSET 184487 rease pay 134489 Part B. Prepare all required journal entries, relating to this lease, that should be made by BGSE Company on December 31, 2021. Part C. Indicate all items related to this lease that would appear on BGSE Company's balance sheet dated December 31, 2021. Be sure to include whether the assets and liabilities are current or noncurrent. Part D. Indicate all items related to the lease that would appear on BGSE Company's income statement for the year ended, December 31, 2021