Southern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2021 Other information: Lease term Annual payments life of asset Implicit interest rate PV, annuity due, 4 periods, 8% pv, ordinary annuity, 4 periods, BX 4 years $47,000 on January 1 cach year 4 years 3.5721 3.3121 There is no expected residual value Required: Prepare appropriate journal entries for Southern Edison for 2021 and 2022. Assume straight line amortization and a December 31 year-end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate and final answers to the nearest whole dollar.)