Need help on the journal entries. Please show steps to solve for the amortization amounts on dates 12/31/20 and 12/31/21.

The following facts pertain to a non-cancelable lease agreement between Wildhorse Leasing Company and Windsor Company, a lessee. May 1, 2020 Commencement date Annual lease payment due at the beginning of each year, beginning with May 1, 2020 Bargain purchase option price at end of lease term Lease term Economic life of leased equipment Lessor's cost Fair value of asset at May 1, 2020 Lessor's implicit rate Lessee's incremental borrowing rate $15,852.19 $5,000 5 years 10 years $50,000 $68,000 11 % 11 % The collectibility of the lease payments by Wildhorse is probable. Prepare a lease amortization schedule for Windsor for the 5-year lease term. (Round answers to 2 decimal places, e.g. 5,275.15.) WINDSOR COMPANY (Lessee) Lease Amortization Schedule Interest on Reduction of Lease Liability Liability Annual Lease Payment Plus BPO Date Lease Liability 5/1/20 i i $ 68,000 5/1/20 15,852.19 i 15,852.19 52,147.81 5/1/21 15,852.19 5736.26 10,115.93 42,031.88 5/1/22 15,852.19 4623.51 11,228.68 30,803.20 5/1/23 15,852.19 3388.35 12,463.84 18,339.36 5/1/24 15,852.19 2017.33 13,834.86 4504.50 4/30/25 5,000 495.50 4,504.50 0 $ 84,260.95 $ 16,260.95 ta $ 68,000 Prepare the journal entries on the lessee's books to reflect the signing of the lease agreement and to record the payments and expenses related to this lease for the years 2020 and 2021. Windsor's annual accounting period ends on December 31. Reversing entries are used by Windsor. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 5,275.15. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit 5/1/20 Right-of-Use Asset 68000 Lease Liability 68000 (To record the lease) 5/1/20 Lease Liability 15852.19 Cash 15852.19 (To record the first lease payment) 12/31/20 Interest Expense 3824.17 Lease Liability 3824.17 (To record interest expense) 12/31/20 Amortization Expense 8400 Right-of-Use Asset 8400 (To record amortization of the right-of-use asset) 1/1/21 Lease Liability 3824.17 Interest Expense 3824.17 5/1/21 Interest Expense 5736.26 Lease Liability 10115.93 Cash 15852.19 12/31/214 Interest Expense 3082.34 3082.34 Lease Liability (To record interest expense) 12/31/21 Amortization Expense 12,600 Right-of-Use Asset 12,600 (To record amortization of the right-of-use asset)