o Paused Blossom Corporation, which uses ASPE, enters into a 6-year lease of equipment on September 1, 2020, that requires 6 annual payments of $28.500 each, beginning September 1, 2020. In addition, Blossom guarantees the lessor a residual value of $16.900 at lease end. The equipment has a useful life of seven years. Assume that for Moxey Corporation, the lessor, collectibility is reasonably predictable, there are no important uncertainties concerning costs, and the equipment's carrying amount is $126,000. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Prepare Moxey's September 1, 2020 journal entries, assuming an interest rate of 10%. (Credit occount titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter for the amounts. Round factor values to 5 decimal places. . 125124 and find answers to 0 decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Sept. 1 Lease Receivable 126000 Lease Liability 28500 cash 16900 (To record inception of lease.) Sept. 1 (To record cost of goods sold.) Sept. 1 A D ENG 2020-03-222 o Paused Blossom Corporation, which uses ASPE, enters into a 6-year lease of equipment on September 1, 2020, that requires 6 annual payments of $28.500 each, beginning September 1, 2020. In addition, Blossom guarantees the lessor a residual value of $16.900 at lease end. The equipment has a useful life of seven years. Assume that for Moxey Corporation, the lessor, collectibility is reasonably predictable, there are no important uncertainties concerning costs, and the equipment's carrying amount is $126,000. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Prepare Moxey's September 1, 2020 journal entries, assuming an interest rate of 10%. (Credit occount titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter for the amounts. Round factor values to 5 decimal places. . 125124 and find answers to 0 decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Sept. 1 Lease Receivable 126000 Lease Liability 28500 cash 16900 (To record inception of lease.) Sept. 1 (To record cost of goods sold.) Sept. 1 A D ENG 2020-03-222