Pick Corporation (lessee) recorded a lease, including right-of-use asset and a lease liability, at Pick made a first lease payment of $478,712 on January 1, 2019. The lease requires no residual value. $ 3,800,000 on January 1, 2019. The interest rate is 13% 20 annual payments in the beginning of the calendar year with Instructions 1. Prepare Lease Amortization Schedule for the lease term (round to the whole number). 2. Prepare Pick Corporation's January 1, 2019 entry at the beginning of the lease, including the first lease payment. 3. Prepare December 31, 2019 adjusting entries. 4. Prepare January 1, 2020 entry to record the second lease payment. 5. Identify and provide examples of the exceptions from lessee accounting, when the lessee is not required to recognize right-of-use asset and a lease liability at the lease commencement date. Pick Corporation (lessee) recorded a lease, including right-of-use asset and a lease liability, at Pick made a first lease payment of $478,712 on January 1, 2019. The lease requires no residual value. $ 3,800,000 on January 1, 2019. The interest rate is 13% 20 annual payments in the beginning of the calendar year with Instructions 1. Prepare Lease Amortization Schedule for the lease term (round to the whole number). 2. Prepare Pick Corporation's January 1, 2019 entry at the beginning of the lease, including the first lease payment. 3. Prepare December 31, 2019 adjusting entries. 4. Prepare January 1, 2020 entry to record the second lease payment. 5. Identify and provide examples of the exceptions from lessee accounting, when the lessee is not required to recognize right-of-use asset and a lease liability at the lease commencement date