Southwestern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2021. Hi-Tech manufactured the equipment at a cost of $95,000, other information Annual payments Life of ant Fair velos of fxplicit interest rate Inerental rate 3 $50,000 on January 1 each year 3 years $140,400 74 There is no expected residual value. Required Prepare appropriate journal entries for Hi-Tech Leasing for 2021. Assume a December 31 year-end. Of no entry is required for a transaction/event, select "No journal entry required" in the first eccount field. Round your answers to the nearest whole dollar amounts) View transactiona Journal entry worksheet Record the lease Note er debits before credits Date General Journal Debi Credi January 01, 2021 Lease payable 150.000 Cost of goods sold 95,000 Sales revenue Equipment Record entry Clear entry View general Journal Prev 20 of 22 Next >