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The following facts pertain to a non-cancelable lease agreement between Faldo Leasing Company and Pearl Companyia lessee. The asset will revert to the lessor at

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The following facts pertain to a non-cancelable lease agreement between Faldo Leasing Company and Pearl Companyia lessee. The asset will revert to the lessor at the end of the lease term. The lessee uses the straight line amortization for all leased equipment. Cliek here to view tactor tables. Prepare all of the journal entries for the lessee for and to record the lease agreement, the lease payments, and all expenses related to this lease. Assume the lessee's annual accounting period ends on December 31. (Credit account titles are automatically indented when 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. Round answers to 0 decimal ploces eg. 5,275. Record journal entries in the order presented in the problem.) Accumulated Depreciation-Leased Equipment (To record amortization.) Lease Liability (To record second lease payment.) Dec. 31.2021 Interest Expense Lease Lability (To record interest.) Dec 31,2021 Amortization Expense 99759 Lease tiability (To record amortization.)

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