Chapter 15 Open-Ended Assignment Note: Please put your answers only in the section below the Bold Red sentence at the end of the Required section below. On January 1, 2021, Flackmon Company entered into a lease for a truck with a payment of $16.000 per year for 4 years. The expected life of the truck is 5 years, and the first payment will be made immediately. Flackmon could obtain a loan for a similar amount at a rate of 8% per year. Required: A. Record the lease liability and the first payment on January 1, 2021. B. Record the amortization on the leased asset for 2021. C. Record interest for 2021 on the lease. D. Record the lease payment on January 1, 2022. Your answers to this open-ended assignment should be placed in the space below this line. A Account Name Debit Credit Date Jan. 1.2021 1-Jan-21 B Date Account Name Debit Credit Dec 31, 2021 C C Account Name Debit Credit Date Dec. 31, 2021 D D Account Name Debit Credit Date Jan. 1, 2022