On January $2,2021,$ Crane Leasing Company leases equipment to Brick Co$.$ with $5$ equal annual payments of $$148000$ each, payable beginning January $2,2021.$ Brick Co$.$ agrees to guarantee the $$139000$ residual value of the asset at the end of the lease term. The expected value of the residual value is $$51000.$ Brick's incremental borrowing rate is $11\%,$ however it knows that Crane's implicit interest rate is $9\%.$ What journal entry would Brick Co$.$ make at January $1,2022$ to record the second lease payment?

$\backslash$table$[[,\frac{PV\text{A}\text{n}\text{n}\text{u}\text{i}\text{t}\text{y}}{\text{D}\text{u}\text{e}},\frac{PV\text{O}\text{r}\text{d}\text{i}\text{n}\text{a}\text{r}\text{y}}{\text{A}\text{n}\text{n}\text{u}\text{i}\text{t}\text{y}},$PV Single Sum$],[9\%,5$ periods,$4\mathrm{.}23972,3\mathrm{.}88965,0\mathrm{.}64993],[11\%,5$ periods,$4\mathrm{.}10245,3\mathrm{.}69590,0\mathrm{.}59345]]$

$$

Lease Liability

$100147$

Interest Expense

$47853$

Cash

$148000$