cises Saved Help Save & Exit Submit 96 Check my work Exercise 15-16 (Algo) Lessee; operating lease [LO15-4] Baillie Power leased high-tech electronic equipment from Courtney Leasing on January 1, 2021. Courtney purchased the equipment from Doane Machines at a cost of $254,000, its fair value. (FV of $1, PV of $1, EVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Related Information: Lease term 2 years (8 quarterly periods) $19,000 at Jan. 1, 2021, and at Mar. 31, June 30, Sept. 30, and Dec. Quarterly lease payments 31 thereafter Economic life of asset 5 years Interest rate charged by the lessor 8 8 Required: Prepare a lease amortization schedule and appropriate entries for Baillie Power from the beginning of the lease through December 31, 2021. December 31 is the fiscal year end for each company. Appropriate adjusting entries are recorded at the end of each quarter. Complete this question by entering your answers in the tabs below. Amort General Schedule Journal Prepare a lease amortization schedule. (Round your intermediate calculations and final answers to the nearest whole dollar. Enter all amounts as positive values.) Lease Effective Decrease in Payment Date Lease Balance Payments Interest Balance k Air