Question 28 Brandy Botting in an agreement on any 120x4. to lease office equipment for a 5-year period. The estimated useful life of the office equipment is 8 years. The market value of the all equipment is 5235.000. The lease agreement calls for lease payments of $55.040. The first payment a due on December 31, 20%4. all subsequent payments are made cach December 3! there Twinterest rate started in the lease agreements. The present value of the lease payments is $219.758. At the end of the lease term the equipamentets back to the lessor Premes to record atheromonawary1.2014 then on December 31, 204 the motionen A Answer: a. Jan. 1 Equipment Leasehold Capital Lease Liability Dec 31 Interest Expense Cape Utility Dec 31 autold Amorturation Expence