On January 1, 2024, Harlon Consulting entered into a three-year lease for new office space agreeing...

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On January 1, 2024, Harlon Consulting entered into a three-year lease for new office space agreeing to lease payments of: $12,700 In 2024, $9,800 in 2025 and $6,900 in 2026. Payments are due on December 31 of each year with the first payment being made on December 31, 2024. Harlon is aware that the lessor used a 6% Interest rate when calculating lease payments. Required: 1-4. Prepare the appropriate entries for Harlon Consulting on January 1, 2024, December 31, 2024, 2025 and 2026 to record the lease. Note: Use tables, Excel, or a financial calculator. If no entry is required for a transaction/event, select "No journal entry required" In the first account field. Round your Intermediate and final answers to nearest whole dollar. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) No 1 2 3 4 5 6 7 Date January 01, 2024 | Right-of-use asset Lease payable December 31, 202 Interest expense Lease payable Cash Answer is not complete. General Journal Debit Credit December 31, 202 Amortization expense Right-of-use asset December 31, 202 Interest expense Right-of-use asset Cash December 31, 202 Amortization expense Right-of-use asset December 31, 202 Interest expense Right-of-use asset Cash December 31, 202 Amortization expense Right-of-use asset On January 1, 2024, Harlon Consulting entered into a three-year lease for new office space agreeing to lease payments of: $12,700 In 2024, $9,800 in 2025 and $6,900 in 2026. Payments are due on December 31 of each year with the first payment being made on December 31, 2024. Harlon is aware that the lessor used a 6% Interest rate when calculating lease payments. Required: 1-4. Prepare the appropriate entries for Harlon Consulting on January 1, 2024, December 31, 2024, 2025 and 2026 to record the lease. Note: Use tables, Excel, or a financial calculator. If no entry is required for a transaction/event, select "No journal entry required" In the first account field. Round your Intermediate and final answers to nearest whole dollar. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) No 1 2 3 4 5 6 7 Date January 01, 2024 | Right-of-use asset Lease payable December 31, 202 Interest expense Lease payable Cash Answer is not complete. General Journal Debit Credit December 31, 202 Amortization expense Right-of-use asset December 31, 202 Interest expense Right-of-use asset Cash December 31, 202 Amortization expense Right-of-use asset December 31, 202 Interest expense Right-of-use asset Cash December 31, 202 Amortization expense Right-of-use asset