On January 1, 2018, AFS teated equipment from Pearson Corporation over a six year lease. The same agreement that is safranca imate The lease agreement specifies six annual payments of $21.429 beginning January 1, 2018, the beginning of the loase, and at each December 31 varustus rough 2002. Tom of payments is The asset's useful life is 8 years. The interest rate is 9% a. Prepare ALL 2018 entries required by AFS to be made on this lease. The journal entry is to be made in proper form, label your Drit b. After recording the 2018 entries, what amount will AFS report as its lease liability? Show the support for your answer c. How will this act AFS's earnings? Will earings increase or decrease and by what amount? Again, show support for your