On 1 July 2019, River Ltd leased a processing plant to Bridge Ltd. The plant was purchased by River Ltd on 1 July 2019 for its fair value of $467,112. The lease agreement contained the following provisions: 3 years 5 years Lease term Economic life of plant Annual rental payment, in arrears (commencing 30 June 2020) Residual value at end of the lease term Residual guaranteed by lessee Interest rate implicit in lease $150,000 $90,000 $60,000 7% Bridge Ltd intends to return the processing to River Ltd at the end of the lease term. The lease has been classified as a finance lease by River Ltd (financier Lessor). Present value amounts are as follows: $1:7%, 3 years: 0.8163 $1 annuity every year: 7%, 3 years: 2.6243 Required: A Prepare: (1) the lease payments schedule for Bridge Ltd (the Lessee) for the year ended 30 June 2020; and B. (2) the journal entries in the records of Bridge Ltd (the Lessee) for the year ended 30 June 2020. Prepare: (1) the lease receipts schedule for River Ltd (the Lessor) for the year ended 30 June 2020; and (2) the journal entries in the records of River Ltd (the Lessor) for the year ended 30 June 2020. Narrations are NOT required. Show all workings