& p Recording Pisance Leas, Unguaranteed Residual, Initial Direct Costa-Lecce ayor 1, Cane Company signed a five-year lease contact for eament with Abel Company. The equipment had a normal selling price

of $55.000 and estimated We of six years Five analpayments of 811,815 are payatre by Abel on each january 1, beginning of the lease commencament. The at the end of the nese term canes implica interest rate is ok, which is known to Abel. Abe we paid legal fees in the recution of the e of $830 on January at your 1, and the equipment is estimated to have an unguaranteed residual wake of $1,000 at the end of the lease Required How would be compare classify the lease? Prepare a schedule of the lease-lability for the first two years of the lease term. Note: Round each amoure in the schedule to the nearest whole dollar. Use the rounced amoure for later calculations in the schedule 1.2 $ Dec. 31, Your W DS DS Tommet kaa 30 0$ Lese Cherge $ DS 05 L Liby Prepare the entre for Abel Company on January and December 31 of the first year of the lea Note: Round your answers to the nearest whole dolar To record asset and related to se V D くく くく D 1 Cr. D 0 d 0 D DO 0 DO 0 50 D D G 0 0 D D a d