On January 1, 2020, MurphyServices, Inc., a computer software training firm, leased several computers under a two-year lease agreement from ComputerWorld Leasing, which routinely finances equipment for other firms at an annual interest rate of 4%. At the end of the two-year lease term, the computers will revert to Computer World Leasing. The contract calls for four rent payments of $10,000 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by ComputerWorld at a cost of $90,000 and were expected to have a useful life of five years with no residual value. Both firms record amortization and depreciation semi-annually.

Required: Prepare the appropriate entries for both the lessee and the lessor from the beginning of the lease through 12/31/2020. If no entry is required for a transaction.event, write "No journal entry required".