On January 1, 2021, Flackmon Company entered into a lease for a truck with a payment of S16,000 per year for 4 years. The expected life of the truck is 5 years, and the first payment will be made immediately. Flackmon could obtain a loan for a similar amount at a rate of 8% per year. Required: A. Record the lease liability and the first payment on January 1, 2021. B. Record the amortization on the leased asset for 2021 C. Record interest for 2021 on the lease. D. Record the lease payment on January 1, 2022. Your answers to this open-ended assignment should be placed in the space below this line. A Account Name Debit Date Jan. 1.2021 Credit 1-Jan-21 B Account Name Debir Credit Date Dec 31, 2021 C Account Name Debit Credit Date Dec 31, 2021 D Account Name Debit Credit Date Jan 1, 2022