INTERMEDIATE ACCOUNTING CONNECT ACCESS +
INTERMEDIATE ACCOUNTING CONNECT ACCESS +
10th Edition
ISBN: 9781264388608
Author: SPICELAND
Publisher: MCG
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Based on the attached amortization schedule, what is the amount for the interest expense and amortization expense that is missing from the ledger?   2 year term, 8 quarterly payments, 6% rate  Initial lease $136768
Southern Company leased high-tech electronic equipment from Edison Leasing on January 1, 2024. Edison purchased the equipment from International Machines at a cost of $136,768. 2 year lease, with 8 quarterly payments of $18,000 each, 6% interest rate. What is the amortization schedule for this loan starting Jan 1, 2024?
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