Manufacturers Southern leased high$-$tech electronic equipment from Edlson Leasing on January $1,2024.$ Edison purchased the equipment from International Machines at a cost of $$112,446.$

Note: Use tables, Excel, or a financlal calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Related Information:

Lesse terin

Quartarly rental payments

Economic life of asset

fair value of asset

Implicit interest rate $($Also

lessee's incremental borrowing

rate$)$

$ $15,{20}^2$ years $(8$ quarterly periods$)$

$$15,300$ at the begining of each period

$$112,{48}^2$ years

Required:

$10x$

Prepare a lease amortization schedule and approprlate entries for Manufacturers Southern from the beginning of the lease through January $1,2025.$ Amortization Is recorded at the end of each fiscal year $($December $31)$ on a stralght$-$IIne basis.

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[\backslash$table$[[$Ancrtisalich$],[$Sthedule$]],\backslash$table$[[$General$],[$Toumal$]]]]$

Prepare a lease amortization schedule for the term of the lesse for Manufacturers Southem.

Note; Round your intermediate calcustions and thal answers to the heserest whole dollan, Enter all amounts as positive values.

$\backslash$table$[[$Payment Date,$\backslash$table$[[$Lease$],[$Payments$]],\backslash$table$[[$Effective$],[$Interest$]],\backslash$table$[[$Decriease in$],[$Balance$]],$Lease B$$lanes$],[01101/2024,,,,],[\frac{0101}{2024},,,,],[041012024,,,,],[\frac{07101}{2024},,,,],[\frac{10101}{2024},,,,],[\frac{01101}{2025},,,,],[04012025,,,,],[071012225,,,,],[19012025,,,,],[$Tor:al$,,,,]]$

Ceneral.