Manufacturers Southem leased high-tech electronic equtpment from Edison Leasing on January 1, 2021. Edison purchased the equipment from International Machines at a cost of $112,080. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $(U appropriate factor(s) from the tables provided.) D Related Information: Lease ter 2 year's (8 quarterly periods) Quarterly rental payments $15,000 at the beginning of each period Economic life of asset 2 years Fair value of asset $112, ese Implicit interest rate (Also lessee's Incremental borrowing rate) Required: Prepare a lease amortization schedule and appropriate entries for Manufacturers Southern from the beginning of the lease through January 1, 2022. Amortization of the right-of-use asset is recorded at the end of each fiscal year (December 31) on a straight-line basis Complete this question by entering your answers in the tabs below. Amort Schedule General Journal Prepare a lease amortization schedule for the term of the lease for Manufacturers Southern (Round your intermediate calculations and final answers to the nearest whole dollars. Enter all amounts as positive values.) Payment Date Lease Payments Effective Interest Decrease in Balance Lease Balance 01/01/2021 04/01/2021 07/01/2021 10/01/2021 01/01/2022 04/01/2022 07/01/2022 10/01/2022 Total $ os os 0 res General Journal > View transaction of Journal entry worksheet 2 3 4 on 6 7 8 > Record the beginning of the lease for Manufacturers Southern Note: Enter debits before credits General Journal Debit Credit Date January 01, 2021 Record entry Clear entry View general Journal Record lease payment, Note Enter dobits betare credits Date General Journal Debit Credit October 01, 2021 Record entry Clear entry View general Journal ho Record amortization of the right-of-use asset for Manufacturers Southern. FR Note: Enter dabits before credits General Journal Debit Credit Date December 31. 2021 Record entry Clear entry View general Journal