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, 3 periods, 10% PV, ordinary annuity, 3 periods, 10% There is no expected residual value. Required: 3 years $38,000 on January 1 each year 3 years 10% 2.7355 2.4869 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.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Record the lease. Note: Enter debits before credits. Date General Journal Dahit