The following facts pertain to a noncancelable lease agreement between Marin Leasing Company and Headland Company, a lessee.

Inception date:		May 1, 2017
Annual lease payment due at the beginning of
each year, beginning with May 1, 2017		$19,373.99
Bargain-purchase option price at end of lease term		$4,400
Lease term		5	years
Economic life of leased equipment		10	years
Lessors cost		$62,000
Fair value of asset at May 1, 2017		$85,000
Lessors implicit rate		9	%
Lessees incremental borrowing rate		9	%

The collectibility of the lease payments is reasonably predictable, and there are no important uncertainties surrounding the costs yet to be incurred by the lessor. The lessee assumes responsibility for all executory costs. The expected residual value of the equipment at the end of 5 (10) years is $12,000 ($0). Click here to view factor tables

	Your answer is correct.

Prepare a lease amortization schedule for Headland Company for the 5-year lease term. (Round present value factor calculations to 5 decimal places, e.g. 1.25126 and Round answers to 2 decimal places, e.g. 15.25.)

You were Presere e lees en hedule for Headleed Cersenyfer the year extern (Round present vel fector celulation to decimel plece, .g. 1.25126 and Round en wera to z decimel plece, .g. 15.25.) HEADLAND COMPANY (Leses) Lesse Amortization Schedule Annuel Lene Payment Plus Interest on Reduetion of Lasse Det BPO Liability Listility Lassa Llebility 19373.90 65.620.03 24,879.74 57.473.62 393723 3.399.00 16,000.93 21.477.73 193739 17.443.00 4.036.71 SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TOT Prepare de jelenbrica en die lewe's becka te reflects of die leex agrecested to record de peyecand expresa related to the less for the year 2017 and 2005. Headland's les seried enda en Desab 1.25124 and Round a wara to z decimal plece, ... 15.25.) Account Titles and Explanation Debit Credit Leased Lees Usblicy (Terseerd de las) Lex Uby (Te record de finalease payment) 12/31/17 Deprecatione Related Depreciation-Eulent (Te Te recorder) Interest Expens interest Payable (Te record depreciation) Interest Payable interest 5/9/15 interest Lees Usblicy Interat Payable (Te record intera) Depreciation Expens Resulted Depreciation-i-ent (Te record degree)