On Jamuary $1.2024,$ Robertson Construction leased several items of equipment under a two$-$year operating lease agreement from Jarmison Leasing. which routinely finances equipment for other firms at an annual interest rate of $4\%.$ The contract calls for four rent payments of $$42\mathrm{.}000$ each, payable semiannually on June $30$ and December $31$ each year. The equfpment wes aceutred by Jamison Leasing at a cost of $$362000$ and was expected to have a useful life of $5$ years with no residual value. Both firms record amortization and depreciation semi annually.

Required:

Prepare the appropriate joumal entrics for the lessee from the beginning of the lease through the end of $2024.$

Note: If ne entry is required for a transection$/$event$,$ select $"$No journal entry required" in the first account field. Round your intermediate and final answers to the nearest whole dellas.

Answer is complete but not entirely correct.

$\backslash$table$[[$No$,$dase,$$rment fournt,Gebit,Credit$],[1,$Jenuary $01,2024,$Roght ot use assel,$202,000\%,],[,,$Lease payybin,,$302,000],[2,$June $30,2004,$Intorel espense,$3\mathrm{.}108,],[,,$Lease paymbie,$368020,],[,,$Cash,,$42\mathrm{.}000],[3,$Jane $30,2024,$Amortzation experse,$30802,],[,,$Foight oluse asset,,$38\mathrm{.}8020]]$Journal entry worksheet

$$

$1$

$2$

$3$

$4$

$(5)$

Record the beginning of the lease for Robertson Construction.

Note: Finter debits before credits.

$\backslash$table$[[$S$.$NolDate,Account Tite,Debit,Credit$],[$January $01,2024,$Rught$-$of$-$use assel,$362\mathrm{.}000,],[,$Lease payable,,$362,000],[,,,],[,,,],[,,,],[,,,]]$Journal entry worksheet

$1$

$3$

$4$

$5$

$>$

Record the lease payment for Robertson Construction.

Note: Inter debits before credts.

$\backslash$table$[[$Down$,$Seneral Journal,Debit,Credit$],[$June $30,2024,$Interest experse,$3,190,],[,$Sase payable,$30,002,],[,$Cash,,$42,000],[,,,],[,,,],[,,,]]$

$$

$$

$$Journal entry worksheet

$4$

$2$

$$

$4$

$5$

Record the amortization or depreciation expense for Robertson Construction.

Note: Inter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$June $30,2024,$Amortuation expense,$38\mathrm{.}802,],[,$Right$-$of$-$use assel,,$38,802],[,,,],[,,,],[,,,],[,,,]]$

$$

$$