I just want to know whether my entries are correct

DLA co. as lesse records a capital lease of machinery on January 1, 2003. The seven annual lease payments of $140,000 are
made at the end of each year. The present value of the lease payments at 10% is $681,600. Utley uses the effective interest
method of amortization and sum-of-the-years'-digits depreciation(no residual value).

a)Prepare an amortization table for 2003 and 2004
b)prepare all of DLA's journal entries for 2003

a) Date Annual Lease payment Interest payable Reduction of Lease Obligation Lease liability
1/1/2003 681,600
12/31/2003 140,000 68,160.00 71,840.00 609,760.00
12/31/2004 140,000 60,976.00 79,024 530,736.00



Journal Entries
b) Accrued Interest
Interest Expense 5,416.00
Interest payable 5,416.00

Depreciation

Depreciation expense - capital leases 97,368.00
Accumulated depreciation-capital leases 97,368.00
(computation of present value of minimum lease
payments( $140,000*4.86842-(table 4))=681578/7=97,368


Lease payment
Interest expense 71840
obligation under capital lease 68160
cash 140,000