Lease Term (in years) semiannual lease payments (paid Jan. 1 and July 1) Effective interest rate $30,000 6% Present value of lease payments O Prepare the lease payable amortization schedule. Lease Payment Date Payments Effective Interest Decrease in Balance Lease Balance 01/01/41 07/01/1 01/01/Y2 07/01/Y2 01/01/43 07/01/Y3 01/01/Y4 07/01/14 total Based on the amortization schedule, please answer the following questions. Q1: what is the lessee's lease expense in Y1 if this is an operating lease? Q2: what is the lessee's interest expense in Y1 if this is an operating lease? Q3: what is the lessee's amortization expense related to the right-of-use assets in Y1 if this is an operating lease? Q4: what is the lessee's amortization expense related to the right-of-use assets in Y3 if this is an operating lease? Q5: Prepare the journal entry for the lessor on 01/01/11 if this is an operating lease. Q6: Prepare the journal entry for the lessor on 07/01/43 if this is an operating lease (no need to record depreciation expense which would be recorded as an adjusting entry at fiscal period end). 07: Prepare the journal entry for the lessor on 07/01/43 if this is a sales-type lease (no need to record depreciation expense which would be recorded as an adjusting entry at fiscal period end). Sensitivity Analysis Lease lease balance at balance 07/01/Y2 at 07/01/Y3 (after the (after the lease lease payment) payment) the semiannual lease payments is $23,000 and the effective interest rate is 8% the semiannual lease payments is $34,000 and the effective interest rate is 5%