Required information [The following information applies to the questions displayed below.] On January 1, Rogers (lessee) signs a three-year lease for machinery that is accounted for as a finance lease. The lease requires three $18,000 lease payments (the first at the beginning of the lease and the remaining two at December 31 of Year 1 and Year 2). The present value of the three annual lease payments is $51,000, using a 6.003% interest rate. The lease payment schedule follows: Required: 1. Prepare the January 1 joumal entry at the start of the lease to record any asset or liability. Journal entry worksheet Record the journal entry for any asset or liability at the start of the lease