Question: A lease agreement that qualifies as a finance lease calls for annual lease payments of $26 269 ove asset's useful life), with the first payment

 A lease agreement that qualifies as a finance lease calls for

A lease agreement that qualifies as a finance lease calls for annual lease payments of $26 269 ove asset's useful life), with the first payment at January 1, the beginning of the lease. The interest rate is PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: a. Complete the amortization schedule for the first two payments. b. If the lessee's fiscal year is the calendar year, what would be the amount of the lease liability that balance sheet at the end of the first year? What would be the interest payable? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B If the lessee's fiscal year is the calendar year, what would be the amount of the lease liability that the le its balance sheet at the end of the first year? What would be the interest payable? (Round your answers dollar.) $ 93,149 Lease liability Interest payable $ 5,687

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