TB Problem 15-195 (Static) 3 Northwestern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2021. Hi-Tech manufactured the equipment at a cost of $90,000 30 points Skipped Other information: Lease term Annual payments Lite of asset Implicit interest rate Incremental rate PV, annuity due, 3 periods, 88 PV of lease payments 3 years $40,000 on January 1 each year 3 years B% 2.7833 $111,332 eBook There is no expected residual value. G References Required: Prepare appropriate journal entries for Hi-Tech Leasing for 2021 and 2022. Assume 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 answers to the nearest whole dollar amounts.) View transaction list Journal entry worksheet Record the lease. Nate: Enter debits before credits. General Journal Debit Credit Date January 01, 2021 Journal entry worksheet Record the cash received. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2021 Journal entry worksheet Record the cash received. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2022