On July 1 2006 Company A enters into a six-year $190000 lease of equipment that

On July 1 2006 Company A enters into a six-year $190000 lease of equipment that requires five annual payments beginning July 1 2006. The lease guarantees the lessor Corporation B a $30000 residual value at lease end.The assumed interest rate is 12%12% tables present value PV Annuity Dueyear 4 .63552 3.40183year 5 .56743 4.03735year 6 .50663 4.60478Which journal entry shows the second lease payment on Company As books?Choose 1 answera. Lease Liability 41261.47Cash 41261.47b. lease liability 37960.79cash 37960.79c. cash 37960.79lease liability 37960.79d. cash 41261.47lease liability 41261.47