please correct the last part

Blossom Leasing Company leases a new machine to Sharrer Corporation. The machine has a cost of $65,000 and fair value of $96,000. Under the 3-year, non-cancelable contract, Sharrer will receive title to the machine at the end of the lease. The machine has a 3-year useful life and no residual value. The lease was signed on January 1, 2020. Blossom expects to earn an 8% return on its investment, and this implicit rate is known by Sharrer. The annual rentals are payable on each December 31, beginning December 31, 2020 Click here to view factor tables. Your answer is correct. Prepare an amortization schedule that would be suitable for both the lessor and the lessee and that covers all the years involved. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to decimal places eg. 5,275.) Date Rent Receipt/Payment Interest Revenue/Expense Reduction of Principal 1/1/20 $ $ $ $ 12/31/20 37251 7680 29.571 12/31/21 37251 5,314 31,937 12/31/22 37251 2,759 34.492 e Textbook and Media List of Accounts Your answer is correct. Prepare the journal entry at commencement of the lease for Blossom. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 1/1/20 Lease Receivable 96,000 Cost of Goods Sold 65.000 Cost of Goods Sold 65.000 Inventory 65.000 Sales Revenue 96000 eTextbook and Media List of Accounts Your answer is correct. Prepare the journal entry at commencement of the lease for Sharrer. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 1/1/20 Right-of-Use Asset Lease Liability 96000 96000 eTextbook and Media List of Accounts Your answer is partially correct. Prepare the journal entry at commencement of the lease for Sharrer, assuming (1) Sharrer does not know Blossom's implicit rate (Sharrer's incremental borrowing rate is 9%), and (2) Sharrer incurs initial directs costs of $11,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to decimal places eg. 5,275.) Account Titles and Explanation Debit Credit Date 1/1/20 Right-of-Use Asset 41350 Lease Liability 30350 Cash 11000