Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2021. Edison purchased the equipment from International Machines at a cost of $136,768. (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Related Information: Lease tern Quarterly rental payments Economic life of asset 2 years (quarterly periods) $18,000 at the beginning of each period 2 years Fair value of asset Implicit interest rate (Also lessee's incremental borrowing rate) $136,768 61 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. Answer is not complete. 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 dollar) Payment Date Lease Payments Effective Interest Decrease in Balance Lease Balance $ 136,768 ( 01/01/2021 04/01/2021 S 18,000 32,824 18,000 07/01/2021 10/01/2021 01/01/2022 04/01/2022 No 1 2 Date January 01, 2021 Equipment Lease payable January 01, 2021 Lease payable Cash 3 April 01, 2021 Interest expense Lease payable Cash 4 July 01, 2021 Interest expense Lease payable 5 6 October 01, 2021 Interest expense Lease payable December 31, 202 Interest expense Show General Journal Debit Credit Interest payable 7 December 31, 202 Depreciation expense * Accumulated depreciation * 8 January 01, 2022 Interest payable Lease payable Cash