On January $1,2024,$ Nath$-$Langstrom Services, Incorporated, a computer software training firm, leased several computers under a twoyear operating lease agreement from ComputerWorld Leasing. Which routlnely finances equipment for other firms at an annual Interest rate of $4\%.$

The contract calls for four rent payments of $$18,000$ each, payable semlannually on June $30$ and December $31$ each year.

The computers were acquired by ComputerWorld at a cost of $$106,000$ and were expected to have a useful life of five years wth no residual value.

Both firms record amortization and depreclation semlannually.

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 approprlate Journal entries recorded by Nath$-$Langstrom Services for the first year of the lease.

Prepare appropriate Journal entrles recorded by ComputerWorld Leasing for the first year of the lease.

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Required $2$

Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease.

Noter If no entry is required for a transaction$/$event$,$ select $"$No joumal entry required" in the first account field. $($Round your intermediate calculations and final answers to the nearest whole dollar.$)$

$\backslash$table$[[$No$,$Date,Gener:,,Debit,Credit$],[1,$January $01,2024,$Cash,$x,,],[,$Lease revenue,$,,],[,,,,,],[2,$June $30,2024,$Depreciation expense,$($x$),,],[,$Accumulated depreciation,$($x$),,],[,,,4,,],[3,$June $30,2024,$Depreciation expense,$0,10,000ox,],[,$Accumulated depreciation,$0,,10,000\frac{O}{?}$