Presented below are two independent situations.
1. Flinthills Car Rental leased a car to Jayhawk Company for 11 months. Terms of the lease agreement call for monthly payments of $500.
2. On January 1, 2020, Throm plc entered into an agreement to lease 20 computers from Drummond Electronics. The terms of the lease agreement require three annual rental payments of £20,000 (including 10% interest) beginning December 31, 2020. The present value of the three rental payments is £49,735.

Instructions
a. Prepare the appropriate journal entry to be made by Jayhawk for the first lease payment.
b. Prepare the journal entry to record the lease agreement on the books of Throm on January 1, 2020.