A LTI Launch x Question 2 - Ch. 16 Taxes Homewc X Question 10 - Ch.15 Leases Home X G On January 1, 2024, Nath-Langstr X + X (@ https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252FltiaCloseWi... . . . Ch.15 Leases Homework i Saved Help Save & Exit Submit D 10 On January 1, 2024, Nath-Langstrom Services, Incorporated, a computer software training firm, leased several computers under a two- G year operating lease agreement from ComputerWorld Leasing, which routinely finances equipment for other firms at an annual interest rate of 4%. W . The contract calls for four rent payments of $15,500 each, payable semiannually on June 30 and December 31 each year. 10 y! points . The computers were acquired by ComputerWorld at a cost of $101,000 and were expected to have a useful life of five years with no residual value. . Both firms record amortization and depreciation semiannually. eBook Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, EVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Hint Required: in Print References 1. Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. 2. Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease. Complete this question by entering your answers in the tabs below. W Required 1 Required 2 Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. (Round your intermediate calculations and final answers to the nearest whole dollar.) GW View transaction list View journal entry worksheet X + No Date General Journal Debit Credit Mc Graw + Mc Graw Hill 3 Flood advisory hip C 8:47 PM In effect Q Search ~ ENG () 5 9/14/2025A LTI Launch x Question 2 - Ch. 16 Taxes Homewc X Question 10 - Ch.15 Leases Home X G On January 1, 2024, Nath-Langstr X + X (@ https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252FltiaCloseWi... . . . Ch.15 Leases Homework i Saved Help Save & Exit Submit Required 1 Required 2 10 G Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. (Round your W intermediate calculations and final answers to the nearest whole dollar.) 10 points View transaction list View journal entry worksheet X eBook No Date General Journal Debit Credit Hint 1 January 01, 2024 Cash 15,500 Lease revenue 15,500 in Print References 2 June 30, 2024 Depreciation expense 10,100 Accumulated depreciation 10.100 3 June 30, 2024 Cash XP Lease revenue W 4 December 31, 2024 Cash 15,500 Lease revenue 15,500 GW 5 December 31, 2024 Depreciation exp 10, 100 Accumulated depreciation 10, 100 + Mc Graw Hill 3 Flood advisory In effect Q Search e 8:47 PM ENG ~ () 5 9/14/2025