On January $1,2024,$ Nath$-$Langstrom Services, Incorporated, 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 $4\%.$

The contract calls for four rent payments of $$20,000$ each, payable semiannually on June $30$ and December $31$ each year.

The computers were acquired by ComputerWorld at a cost of $$110,000$ and were expected to have a useful life of eight years with no residual value.

Both firms record amortization and depreciation semiannually.

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Required:

Prepare appropriate journal entries recorded by Nath$-$Langstrom Services for the first year of the lease.

Record the beginning of the lease for Nath$-$Langstrom Services.

right of use asset$--$ lease payable

Record the lease payment made by Nath$-$Langstrom Services.

interest expense$--$lease payable$--$cash

Record amortization for Nath$-$Langstrom Services.

amortization expense$--$ right of use asset

Record the lease payment made by Nath$-$Langstrom Services

interest expense$--$lease payable

Record amortization for N