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Host Co as a lessee records a finance lease of machinery on 1/1/19. The 7 annual...

Host Co as a lessee records a finance lease of machinery on 1/1/19. The 7 annual lease payments of $210,000 are made at the end of each year. The present value of the lease payments at 10% is $1,022,400.

Prepare a lease amortization schedule from 1/1/19 to 12/31/21.

Prepare the journal entries for Host from 1/1/19 to 12/31/20.

SHOW ALL COMPUTATIONS.

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