Southern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2018 Other information: Lease term 5 years $39,000 on January 1 each year 5 years Annual payments Life of asset Implicit interest rate PV, annuity due, 5 periods, 78 PV, ordinary annuity, 5 periods, "79 4.3872 4.1002 There is no expected residual value. Required: Prepare appropriate journal entries for Southern Edison for 2018 and 2019. Assume straight-line amortization and a December 31 year-end Record the lease. o Date: Jan 01, 2018 Record the cash payment. o Date: Jan 01, 2018 Record the interest expense. o Date: Dec 31, 2018 Record the amortization expense. o Date: Dec 31, 2018 Record lease payment. o Date: Jan 01, 2018 Record the interest expense. o Date: Dec 31, 2018 Record the amortization expense. o Date: Dec 31, 2018