On 1 July 2020, Andy Ltd entered a lease contract with Bella Ltd for the use of a Machine under the following conditions: - Term: 4 years - Annual payment of $15000 commencing 1 July 2020 - Guaranteed full residual value: $8000. - Useful life of Machine: 6 years - Interest rate implicit in the lease 8% Andy Ltd intends to return the Machine after the end of the lease. Additional information: ReqL Provide the following for Andy Ltd: (a) Determine the lease liability, show working for the calculated amount. ( 8 marks) (b) Determine the Right-of-Use Asset, show working for the calculated amount. (6 marks) c) Annual depreciation expense, show working for the calculated amount. (3 marks) d) Prepare the general journal entry on 1 July 2020 in Lessee's accounts to recognise the initial lease. ( 3 marks)