please show work. thank you!

*Exercise 21A-7 b-e Sheridan Leasing Company leases a new machine to Sharrer Corporation. The machine has a cost of $65,000 and fair value of $88,000. 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, 2017. Sheridan 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, 2017. Click here to view the factor table Your answer is partaly correct. Try agan 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 0 decimal places e.g. 5,275.) D Rent Receip Payment Intarest Revenual Expanse Reduction ef Principal eceble Liablity 231/17 2/31/18 2/3119 x) Your anaweri"oorrect. Try again. Prepare the journal entry at commencement of the lease for Sheridan. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Aceount Titles and Explanation Your anawer is inooect. Try agan