Please help me with the entire problem. There are to be no empty journal entries.

ALL INFORMATION NEEDED TO SOLVE THE PROBLEM HAS BEEN PROVIDED. THERE IS NO MISSING INFORMATION.

Here are all possible journal entry options:

• Accumulated depreciation (Bal. Sht)
• Cash (Bal. Sht)
• Deferred rent revenue (Bal. Sht)
• Equipment (Bal. Sht)
• Lease payable (Bal. Sht)
• Lease receivable (Bal. Sht)
• Note payable (Bal. Sht)
• Prepaid service contract (Bal. Sht)
• Right-of-Use asset (Bal. Sht)
• Warehouse (Bal. Sht)
• Amortization expense (Inc. Stmt)
• Cost of goods sold (Inc. Stmt)
• Gain on sale of warehouse (Inc. Stmt)
• Interest expense (Inc. Stmt)
• Interest revenue (Inc. Stmt)
• Lease expense (Inc. Stmt)
• Lease revenue (Inc. Stmt)
• Misc. expenses (Inc. Stmt)
• Rent revenue (Inc. Stmt)
• Sales revenue (Inc. Stmt)

_ l _ _ _ 1 Problem 10. iLessor leases asset to Lessee on 1/1/2020. Lease term is 8 years. Lease payment is $97,580.60/year with ithe first payment due at the inception of the lease. The lease payment includes $10,000 payment for 4 hazard insurance and taxes that the Lessor is paying on Lessee's behalf. Lessor's implicit rate is 12%/year 5 and this rate is known by Lessee. 6 7Required S 1. Record the lease in the Lessee's books on 1/1/2020. 9 10 11 Enter your entries below. Choose the account from the drop-down list in the yellow cell. Enter the amount of the entry in the green box. 12 Entries by Lessee at inception of lease on 1/1/2020: 13 14 Account 16 17 HHHH 18 19 20 21 22 2. Redo #1 assuming that the $10,000 payment is for an annual service contract (on the leased asset) 23 rather than hazard insurance and taxes. 24 25 Enter your entries below. Choose the account from the drop-down list in the yellow cell. Enter the amount of the entry in the green box. 26 27 Account Debit Credit 28 29 30 31 NNNNN 32