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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 $129,170.

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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 $129,170. (FV of $1, PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1 ) ( appropriate factor(s) from the tables provided.) 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 (Dfecember 31 ) on a straight-line basis Complete this question by entering your answers in the tabs below. 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) Record the beginning of the lease for Manufacturers Southern. Note: Enter debits before credits. Note: Enter debits before credits. Note: Enter debits before credits. Note: Enter debits before credits. Record lease payment. Note: Enter debits before credits. Note: Enter debits before credits. Record amortization of the right-of-use asset for Manufacturers Southern. Note: Enter debits before credits. Note: Enter debits before credits

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