The following facts pertain to a non-cancelable lease agreement between Windsor Leasing Company and Wildhorse Company, a lessee. Commencement date Annual lease payment due at the beginning of May 1, 2020 each year, beginning with May 1, 2020 $15,852.19 Bargain purchase option price at end of lease term $5,000 Lease term 5 years Economic life of leased equipment 10 years Lessor's cost $50,000 Fair value of asset at May 1, 2020 $68,000 Lessor's implicit rate 11 % Lessee's incremental borrowing rate 11 % The collectibility of the lease payments by Windsor is probable. Click here to view factor tables. Compute the amount of the lease receivable at commencement of the lease. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round answer to 2 decimal places, e.g. 5,275.15.) Lease receivable at commencement $ 65033 Prepare a lease amortization schedule for Windsor for the 5-year lease term. (Round answers to 2 decimal places, e.g. 5,275.15.) WINDSOR LEASING COMPANY (Lessor) Lease Amortization Schedule Annual Lease Payment Plus Interest on Lease BPO Receivable +A $ 20852 20852 20852 20852 20852 20852 20852 5410 tA Recovery of Lease Receivable 15442 +A Lease Receivable 65033 49181 Prepare the journal entries to reflect the signing of the lease agreement and to record the receipts and income related to this lease for the years 2020 and 2021. The lessor's accounting period ends on December 31. Reversing entries are not used by Windsor. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 5,275.15. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation > > (To record the lease) (To record lease payment) Debit Credit Suppose the collectibility of the lease payments was not probable for Windsor. Prepare all necessary journal entries for the company in 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 5,275.15.) Date Account Titles and Explanation Debit Credit 5/1/20