Please note if you get 82,000.27 as the lease receivable at commencement and for the amortization schedule it's incorrect.

The following facts pertain to a non-cancelable lease agreement between Tamarisk Leasing Company and Carla Vista Company, a lessee. May 1, 2020 Commencement date Annual lease payment due at the beginning of each year, beginning with May 1, 2020 Bargain purchase option price at end of lease term Lease term Economic life of leased equipment Lessor's cost Fair value of asset at May 1, 2020 Lessor's implicit rate Lessee's incremental borrowing rate $17,865.02 $7,000 5 years 10 years $65,000 $85,000 6 % 6 % The collectibility of the lease payments by Tamarisk is probable. Your answer is incorrect. Compute the amount of the lease receivable at commencement of the lease. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round answer to 2 decimal places, eg. 5,275.15.) Lease receivable at commencement $ | Prepare a lease amortization schedule for Tamarisk for the 5-year lease term. (Round answers to 2 decimal places, e.g. 5,275.15.) TAMARISK LEASING COMPANY (Lessor) Lease Amortization Schedule Annual Lease Payment Plus BPO Interest on Lease Receivable Recovery of Lease Receivable Lease Receivable 17865.02 $ $ $ 82000. 17685.02 17685.02 64315.2 17685.02 3848.12 14016.90 50118. 17685.02 3007.10 11009.80 39108.5 17685.02 2346.51 8663.29 30445.2 17685.02 1826.72 6836.60 23608. 7000 1416.52 5420.05 18188. 114190.12 $ 12444.97 $ 82000.27 Prepare the journal entries to reflect the signing of the lease agreement and to record the receipts and income related to this lease for the years 2020 and 2021. The lessor's accounting period ends on December 31. Reversing entries are not used by Tamarisk. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 5,275.15. Record journal entries in the order presented in the problem.)