Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2024. Edison purchased the equipment from International Machines at a cost of $117,772. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Related Information: Lease term Quarterly rental payments 2 years (8 quarterly periods) $ 15,500 Economic life of asset 2 at the beginning of each period years Fair value of asset $ 117,772 Implicit interest rate (Also lessee's incremental borrowing rate) 6% Required: Prepare a lease amortization schedule and appropriate 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 straight-line basis. Complete this question by entering your answers in the tabs below. Amortization Schedule General Journal Prepare a lease amortization schedule for the term of the lease for Manufacturers Southern. Note: Round your intermediate calculations and final answers to the nearest whole dollar. Enter all amounts as positive values. Payment Date Lease Payments Effective Interest 01/01/2024 01/01/2024 04/01/2024 07/01/2024 10/01/2024 01/01/2025 04/01/2025 07/01/2025 10/01/2025 Total Decrease in Balance Lease Balance < Amortization Schedule General Journal >