[The following information applies to the questions displayed below.] On January 1, Rogers (lessee) signs a three-year lease for machinery that is accounted for as a finance lease. The lease requires three $18,000 lease payments (the first at the beginning of the lease and the remaining two at December 31 of Year 1 and Year 2). The present value of the three annual lease payments is $51,000, using a 6.003% interest rate. The lease payment schedule follows. Date (A) Beginning Balance of Lease Liability (B) Debit Interest on Lease Liability 6.003% (A) + (C) Debit Lease Liability (D) (B) = (D) Credit Cash Lease Payment (E) Ending Balance of Lease Liability (A) (C) January 1, Year 1 $ 51,000 $ 0 $ 18,000 $