Ac313

need help with number 1 only

Exercise 15-17 Lessee and lessor, operating lease (LO15-4) On January 1, 2018, Nath-Langstrom Services, Inc., a computer software training firm, leased several computers under a two-year operating lease agreement from Computerworld Leasing, which routinely finances equipment for other firms at an annual interest rate of 6%. The contract calls for four rent payments of $11,500 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by Computerworld at a cost of $93,000 and were expected to have a useful life of Five years with no residual value. Both firms record amortization and depreciation semi-annually (FV of $1. PV of 51. EVA of $1. PVA of 51. EVAD of $1 and PVAD of $1 (Use appropriate factor(s) from the tables provided.) Required: Prepare the appropriate entries for both the lessee and the lessor from the beginning of the lease through the end of 2018. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round your intermediate calculations to the nearest whole dollar amount.) No Credit Answer is complete but not entirely correct. Date General Journal Debit January 01, 2018 Right-of-use asset 42,746 Lease payable 42.746 X 2 June 30, 2018 1,282 10.218 interest expense Lease payable Cash 11.500 3 June 30, 2018 10,218 Amortization expense Right-of-use asset 10,218 4 976 December 31, 201 Interest expense Lease payable Cash 10,524 11,500 5 December 31, 201 Amortization expense Right-of-use asset 10,524 10,524 6 June 30, 2018 11,500 Cash Lease revenue o 11,500 June 30, 2018 Depreciation expense Accumulated depreciation 9,300 9,300 December 31, 201 Cash 11,500 Lease revenue 11,500 9 December 31, 201 Depreciation expense Accumulated depreciation 9,300 9.300