Using multiple attempts will impact your score. 10% score reduction after attempt 2 Question Part Score (e) - Your answer is partially correct. What amounts will appear on the essec's December 31.2025 , ba anceshast ra ativa to the lease contract? Prepare the journal entries to record amortization of the leased asset and interest expense for the year 2025. (Credit occount titles are outomatically indented when amount is enteed. Do not indent mantally, If no entry is required, select "Wo Entry" for the account titles and enter 0 for the amounts, Round answers to 0 decimal places, es. 5.275 . List all debit entries before credit entries. On January 1,2025, Grouper Cempany contracts to kase equipment for 5 ywars, wasing to make a paymant of $145,145 at the bagining of each year, starting lanuary 1, 2025. The lezsed equipment is to be capitalized at $586,000. The assat is to be amortized on a double-declining-balance basik, and the oblization is to be reduced on an effective-intersst basis. Groups's incremental borrowing rate is 13%, and the implicit rate in the lease is 12%, which is known by Grouper. Title to the equipmant transfers to Grouper at the end of the lease. The asset has an estimated useful life of 5 years and no residual value. Clickhere to view factor tables. (b) Prepare the journal entries that Grouper should record on January 1, 2025. (Credit account titles are automatically indented iwhen all debit entries before acdit entries. For calculation purposes, rourd foctor valive calculations to 5 decimalploces, eg. 0.52752. Round finel answers to 0 decimal ploce, es. 5.275