Brief Exercise 21-06 Your answer is partially correct. Try again. Metlock Company leased equipment from Costner Company, beginning on December 31, 2019. The lease term is 6 years and requires equal rental payments of $24,542 att beginning of each year of the lease, starting on the commencement date (December 31, 2019). The equipment has a fair value at the commencement date of the lease of $120,000, an estimated useful life of 6 years, and no estimated residual value. The appropriate interest rate is 9%. Click here to view factor tables. Prepare Metlock's 2019 and 2020 journal entries, assuming Metlock depreciates similar equipment it owns on a straiaht-line basis. (Credit account Brief Exercise 21-06 Your answer is partially correct. Try again. Metlock Company leased equipment from Costner Company, beginning on December 31, 2019. The lease term is 6 years and requires equal rental payments of $24,542 att beginning of each year of the lease, starting on the commencement date (December 31, 2019). The equipment has a fair value at the commencement date of the lease of $120,000, an estimated useful life of 6 years, and no estimated residual value. The appropriate interest rate is 9%. Click here to view factor tables. Prepare Metlock's 2019 and 2020 journal entries, assuming Metlock depreciates similar equipment it owns on a straiaht-line basis. (Credit account