Prepare an amortization schedule that would be suitable for the lessee for the lease term. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answers to decimal places eg. 5,275.) SHERIDAN COMPANY (Lessee) Lease Amortization Schedule Interest on Reduction of Lease Liability Liability Annual Lease Payment Plus GRV Lease Liability $ $ 657000 128534 0 128634 528366 128634 128634 128634 128634 128634 0 5 Prepare all of the journal entries for the lessee for and to record the lease agreement, the lease payments, and all expenses related to this lease. Assume the lessee's annual accounting period ends on December 31. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Round answers to decimal places eg. 5,275. Record journal entries in the order presented in the problem.) Date Debit Credit Account Titles and Explanation Leased Asset 1, 2020 657000 Lease Liability (To record the lease) Lexe Liability 1.2020 128634 Cash 128634 (To record first lease payment.) Interest Expense L2020 (To record interest.) Amortisation En (To record amortization) 2021 V Lease Liability 128634 Cash 128634 (To record second lease payment.) Interest Expense 31, 2021 (To record interest.) Amortization Expense 31. 2021 Right-of-Use Asset To record amortization.) eTextbook and Media List of Accounts Suppose Sheridan received a lease incentive of $5,000 from Faldo Leasing to enter the lease. How would the initial measurement of the lease liability and right-of-use asset be affected? Right-of-use asset 662000 Lease Liability $ What if Sheridan prepaid rent of $5,000 to Faldo? Right-of-use asset 652000 Lease Liability