The following facts are for a non-cancellable lease agreement between Ivanhoe Corporation and Swifty Corporation, a lesser Inception date Annual lease payment due at the beginning of each year starting July 1, 2023 Bargain purchase option price at end of lease term reasonably certain to be exercised by Swifty Lease term July 1, 2023 $20,762.88 $3,900.00 Economic life of leased equipment Lessor's cost Fair value of asset at July 1, 2023 Lessor's implicit rate Lessee's incremental borrowing rate 5 years 10 years $59,400 $89.000 10% 10% The collectibility of the lease payments is reasonably predictable, and there are no important uncertainties about costs that have not yet been incurred by the lessor. The lessee assumes responsibility for all executory costs. Both Swifty and Ivanhoe use IFRS. Click here to view the factor table PRESENT VALUE OF 1 Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE Calculate the amount of the right-of-use asset and leave liability. (Round factor values to 5 decimal places, eg. 1.25124 and final answers to 2 decimal places, eg 52.75) Amount $ eTextbook and Media Prepare a lease amortization schedule for the lease obligation using a spreadsheet for Swifty for the five-year lease term. (Round answers to 2 decimal places, eg 52.75) Date 7/3/23 7/1/23 7/1/24 7/3/25 7/1/26 7/3/27 6/30/28 Annual Lease Payment Plus BPO eTextbook and Media SWIFTY Corporation (Lessee) Lease Amortization Schedule Interest (10%) on Unpaid Reduction of Liability Lease Liability Prepare the journal entries on the lessee's books to reflect the signing of the lease agreement and to record the payments and expenses related to this lease for the years 2023 and 2024. Swifty's annual accounting period ends on December 31, and Swifty does not use reversing entries. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Round answers to 2 decimal places, eg. 52.75) Date Account Titles and Explanation (To record inception and payment of lease) (To record interest) (To record depreciation expense) (To record lease payment) (To record interest) (To record depreciation expense) Debit Cre