Question: + Chapter 210 Question 2 of 2 -/3.7 E : List of Accounts Prepare a lease amortization schedule for 2 years (Round answers to decimal

+ Chapter 210 Question 2 of 2 -/3.7 E : List of Accounts Prepare a lease amortization schedule for 2 years (Round answers to decimal places eg. 58,971.) NOVAK INDUSTRIES/SPLISH INCORPORATED Lease Amortization Schedule Annual Lease Receipt/Payment Interest on Receivable/Liability Reduction in Receivable/Liability Lea Receivable Date 1/1/20 $ S $ 1/1/20 1/1/21 1/1/22 elextbook and Media List of Accounts Prepare the journal entries for both the lessee and lessor to record any entries needed in connection with the lease at December 31, 2020. (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) Debit Credit Account Titles and Explanation Lessee (December 31, 2020 lo record interest (lo record amortization Lessor (December 31, 2020) Debit Credit eTextbook and Media List of Accounts Show the items and amounts that would be reported on the balance sheet Inot notes) at December 31, 2020, for both the lessee and the lessor NOVAK INDUSTRIES Balance Sheet (Partial) Asset Current Liability Chapter 210 Question 2 of 2 -/3.7 E : List of Accounts Prepare a lease amortization schedule for 2 years (Round answers to decimal places eg. 58,971.) NOVAK INDUSTRIES/SPLISH INCORPORATED Lease Amortization Schedule Annual Lease Receipt/Payment Interest on Receivable/Liability Reduction in Receivable/Liability Lea Receivable Date 1/1/20 $ S $ 1/1/20 1/1/21 1/1/22 elextbook and Media List of Accounts Prepare the journal entries for both the lessee and lessor to record any entries needed in connection with the lease at December 31, 2020. (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) Debit Credit Account Titles and Explanation Lessee (December 31, 2020 lo record interest (lo record amortization Lessor (December 31, 2020) Debit Credit eTextbook and Media List of Accounts Show the items and amounts that would be reported on the balance sheet Inot notes) at December 31, 2020, for both the lessee and the lessor NOVAK INDUSTRIES Balance Sheet (Partial) Asset Current Liability Chapter 210 Question 2 of 2

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