NEED ASAP ON A B C

The following facts pertain to a non-cancelable lease agreement between Faldo Leasing Company and Vance Company, a lessee. Lease term Commencement date January 1, 2017 Annual lease payment due at the beginning of each year, beginning with January 1, 2017 $113,864 Residual value of equipment at end of lease term, guaranteed by the lessee $50,000 Expected residual value of equipment at end of lease term $45,000 6 years Economic life of leased equipment 6 years Fair value of asset at January 1, 2017 $600,000 Lessor's implicit rate 8% Lessee's incremental borrowing rate 8% The asset will revert to the lessor at the end of the lease term. The lessee uses the straight-line amortization for all leased equipment Instructions (a) Prepare an amortization schedule that would be suitable for the lessee for the lease term. (b) Prepare all of the journal entries for the lessee for 2017 and 2018 to record the lease agreement, the lease payments, and all expenses related to this lease. Assume the lessee's annual accounting period ends on December 31. (c) Suppose Vance received a lease incentive of $5,000 from Faldo Leasing to enter the lease. How would the initial mea surement of the lease liability and right-of-use asset be affected? What if Vance prepaid rent of $5,000 to Faldo