On January 1, 2016, Nath-Langstrom Services, Inc., a computer software training firm, leased several computers from ComputerWorld Corporation under a two-year operating lease agreement. The contract calls for four rent payments of $13,000 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by ComputerWorld at a cost of $96,000 and were expected to have a useful life of eight years with no residual value. Required: Prepare the appropriate entries for the lessee (Use straight-line depreciation.)

1. Record the lease payment for June 30, 2016

2. Record the lease payment for Dec 31, 2016

3. Record cash received June 30, 2016, Dec 31, 2016, and

4. Depreciation expense Dec 31, 2016