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. (FV 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.) Fair value of asset Related Information: Lease term Quarterly rental payments Economic life of asset Implicit interest rate 2 years (8 quarterly periods) $10,000 at the beginning of each period 2 years $136,768 6% (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 Southem. (Round your intermediate calculations and final answers to the nearest whole dollar) Payment Date Lease Payments 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 Effective Interest Decrease in Balance Lease Balance $ 0 $ 05 0 C. Amont Schedule General Journal > Complete this question by entering your answers in the tabs below. Amort Schedule General Journal Record the appropriate entries for Manufacturers Southern from the beginning of the lease through January 1, 2022. Amortization is recorded at the end of each fiscal year (December 31) on a straight-line basis. (Enter your answers in whole dollars and not in millions. Round your intermediate and final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 6 7 8 Record the beginning of the lease for Manufacturers Southern. Note: Enter debits before credits. Date January 01, 2021 General Journal Debit Credit Record entry Clear entry View general journal Amort Schedule Gemurat Journal > Show less A Muse asset is recorded at the end of each scal year (December 3ij on a surdignitaine Complete this question by entering your answers in the tabs below. Amort Schedule General Journal Record the appropriate entries for Manufacturers Southern from the beginning of the lease through January 1, 2022. Amortization is recorded at the end of each fiscal year (December 31) on a straight-line basis. (Enter your answers in whole dollars and not in millions Round your intermediate and final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journa entry required" in the first account field.) Show less A View transaction list Journal entry worksheet