On January 2, 2021, Wildhorse Leasing Company leases equipment to Brick Co. with 5 equal annual payments of $169000 each, payable beginning January 2, 2021. Brick Co. agrees to guarantee the $170000 residual value of the asset at the end of the lease term. The expected value of the residual value is $61000. Brick's incremental borrowing rate is 9%, however it knows that Wildhorse's implicit interest rate is 7%. What journal entry would Brick Co. make at January 1, 2022 to record the second lease payment? PV Annuity Due PV Ordinary Annuity PV Single Sum 7%, 5 periods 4.38721 4.10020 0.71299 9%, 5 periods 4.23972 3.88965 0.64993 Lease Liability Interest Expense Cash 123970 45030 169000 Lease Liability Interest Expense Cash 123489 45511 169000 169000 Lease Liability Cash 169000 Lease Liability Interest Expense Cash 110486 58514 169000