Question: can someone please help me with this question EsOn lanuary 1, 2017, Wildhorse Co. leased a building to Sheffield Inc. The relevant information related to

can someone please help me with this question
can someone please help me with this question EsOn lanuary 1, 2017,
Wildhorse Co. leased a building to Sheffield Inc. The relevant information related

EsOn lanuary 1, 2017, Wildhorse Co. leased a building to Sheffield Inc. The relevant information related to the lease is as lo bw. 1. The lease arrangement is for 10 years. 2. The leased building cost $4,590,000 and was purchased for cash on January 1, 2017 3. The building is depreciated on a straight-line basis. Its estimated economic life is 50 years with no salvage value 4. Lease payments are $258,800 per year and are made at the end of the year 5. Property tax expense of $91,800 and insurance expense of $10,800 on the building were incurred by Wildhorse in the first year, Payment on these two items was made at the end of the year 6. Both the lessor and the lessee are on a calendar-year basis udv (a) Prepare the journal entries that Wildhorse Co. should make in 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit To record receipt of leage payment) To record derciaion) eron 4.24.12.7 SOURCES (To recond depreciation.) rk To record insurance and property tax ts bhy Stuty ( (b) Prepare the journal entries that Sheffield Inc. should make in 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Tiales and Explanation Debit Credit 2/31/17 2017, as a fem for finding the lessee, how much should wildhorse Co report as an expense for this (c)wildhorse paid item in 2017 29,200 to a real estate broker on January Espense should be reported

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