On January 2, 2021, Gold Star Leasing Company leases equipment to Brick Co. with 5 equal annual payments of $160,000 each, payable beginning January 2, 2021. Brick Co. agrees to guarantee the $150,000 residual value of the asset at the end of the lease term. The expected value of the residual value is $50,000. Brick's incremental borrowing rate is 10%, however it knows that Gold Star's implicit interest rate is 8%. What journal entry would Brick Co. make at January 1, 2022 to record the second lease payment? PV Annuity Due 8%, 5 periods 10%, 5 periods PV Ordinary Annuity PV Single Sum 4.31213 3.99271 4.16986 3.79079 .68508 .62092 Lease Liability Interest Expense Cash XXX.XXX XX.XXX XXX.XXX