Watson Co. entered into a lease arrangement for a truck on 1 April 20X2 that had the following terms: The lease payments are $12,500 per year, payable each 1 April for four years. The lease may be renewed at the option of the lessee for a further five years for $3,600 per year. Past practice shows that the Watson Co. usually extends its leases due to the high-quality vehicles from this lessor. Based on an allocation of the lease payment on relative stand-alone prices, the lease and non-lease components (maintenance) are $11,300 and $1,200 respectively. Expected amounts to be paid under the residual value guarantee is $15,000 at the end of the first lease term and $5,000 at the end of the second lease term. The leased asset has a useful life of ten years and a fair value of $70,000. The interest rate implicit in the lease is 7%. (PV of $1, PVA of $1, and PVAD of $1.) (Use appropriate factor(s) from the tables provided.)

Prepare a lease liability amortization table for only the first four payments. (Round the intermediate and final answers to the nearest whole dollar amount.)

\begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Amortization Table } \\ \hline PaymentPeriod & OpeningBalance & Interest & CashPayment & DecreaseinBalance & EndingBalance \\ \hline 202 & & & $ & & \\ \hline 203 & & & & \\ \hline 204 & & & & \\ \hline 205 & & & & \\ \hline \end{tabular}