The following facts pertain to a non-cancelable lease agreement between Mooney Leasing Company and Rode Company,...

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The following facts pertain to a non-cancelable lease agreement between Mooney Leasing Company and Rode Company, a lessee. Commencement date May 1, 2020 Annual lease payment due at the beginning of each year, beginning with May 1, 2020 $20,471.94 Bargain purchase option price at end of lease term $4,000 Lease term 5 years Economic life of leased equipment 10 years Lessor's cost $65,000 Fair value of asset at May 1, 2020 $91,000 Lessor's implicit rate 8% Lessee's incremental borrowing rate The collectibility of the lease payments by Mooney is probable. 8 % Prepare a lease amortization schedule for Rode for the 5-year lease term. (Round answers to 2 decimal places, e.g. 5,275.15.) RODE COMPANY (Lessee) Lease Amortization Schedule Annual Lease Payment Plus Interest on Date BPO Liability 5/1/20 $ 5/1/20 5/1/21 5/1/22 5/1/23 $ Reduction of Lease Liability Lease Liab $ The following facts pertain to a non-cancelable lease agreement between Mooney Leasing Company and Rode Company, a lessee. Commencement date May 1, 2020 Annual lease payment due at the beginning of each year, beginning with May 1, 2020 $20,471.94 Bargain purchase option price at end of lease term $4,000 Lease term 5 years Economic life of leased equipment 10 years Lessor's cost $65,000 Fair value of asset at May 1, 2020 $91,000 Lessor's implicit rate 8% Lessee's incremental borrowing rate The collectibility of the lease payments by Mooney is probable. 8 % Prepare a lease amortization schedule for Rode for the 5-year lease term. (Round answers to 2 decimal places, e.g. 5,275.15.) RODE COMPANY (Lessee) Lease Amortization Schedule Annual Lease Payment Plus Interest on Date BPO Liability 5/1/20 $ 5/1/20 5/1/21 5/1/22 5/1/23 $ Reduction of Lease Liability Lease Liab $