On January $1,2021,$ 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 $$17,000$ each, payable semiannually on June $30$ and December $31$ each year. The computers were acquired by ComputerWorld at a cost of $$104,000$ and were expected to have a useful life of five years with no residual value. Both firms record amortization and depreciation semiannually. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)($Use appropriate factor$($s$)$ from the tables provided.$)$

Required:

$1.$ 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.

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