Using the chart of accounts in Figure 2-1, determine the changes to the balance sheet, income statement, job cost ledger, and equipment ledger as the result of leasing a $55,000 dump truck (Dump Truck...

Using the chart of accounts in Figure 2-1, determine the changes to the balance sheet, income statement, job cost ledger, and equipment ledger as the result of leasing a $55,000 dump truck (Dump Truck 11). The lease extends for five years at which time the dump truck may be purchased for $5,000. The present value of the lease is $55,000.