This is my second time posting this problem because the person who answered it the first time were wrong. Please just follow what is needed in the picture as far as what to type in the empty spaces. Not sure if what I have so far is correct so I would check my work first.

Exercise 21A-7 b-e Sanl Leasing Company leases a new machine to Sharrer Corporation The machine has a cost of $65,000 and fair value of $89,500. Under the 3-year, non-cancelable contract, Sharrer will receive title to the machine at the end of the lease. The machine has a 3-year useful life and no residual value. The lease was signed on January 1, 2017. Sandhill expects to earn an 8% return on its investment, and this implicit rate is known by Sharrer. The annual rentals are payable on each December 31, beginning December 31, 2017. Prepare an amortization schedule that would be suitable for both the lessor and the lessee and that covers all the years involved. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to 0 decimal places e.g. 5,275.) Rent Receipt/ Payment Interest Revenue/ Expense Reduction of Principal Receivable/ Liability Date 89500 12/31/17 12/31/18 12/31/19 61931 34729 34729 34729 7160 4954 2573 27569 29775 32156 3215 LIST OF ACCOUNTS Prepare the journal entry at commencement of the lease for Sandhill (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explamation Debit Credit 1/1/17 Lease Receivable 104187 89500 Prepare the journal entry at commencement of the lease for Sharrer. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS Prepare the journal entry at commencement of the lease for Sharrer, assuming (1) Sharrer does not know Sandhill's implicit rate (Sharrer's incremental borrowing rate is 9%), and (2) Sharrer incurs initial directs costs of $9,500. (Credit account titles are automatically indented when amount is entered. Do not indent manually. For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to O decimal places e.g. 5,275.) Date Account Titles and Explanation Debit Credit