Please help with these 2

Please Answer question one here are the requirements

Problem 1 Facts: Lessee and Lessor execute lease agreement on January 1, 2020. Fair market value of leased asset at inception of lease is $950,000. Estimated residual value of asset at lease termination is $475,000 of which Lessee guarantees SO. Leased asset is carried at a book value of $950,000 in Lessor's accounting records in the Equipment general ledger account. The lease term is 3 years. Annual lease payments of $222,186 are made on December 31st of each year. In addition, Lessee is required to make an up-front payment of $222,186 at the inception of the lease. Lessee's incremental borroying rate is 15%. Lessor's implicit rate is 11% and this rate is unknown by the Lessee. The remaining economic life of the asset is 6 years. The age of the asset is 20 years at lease inception. Required: Supply the requested information in Test spreadsheet tab "1". Problem 2 Facts: Lessee and Lessor execute lease agreement on January 1, 2020. Fair market value of leased asset at inception of lease is $600,000. Estimated residual value of asset at lease termination is S342,857 of which Lessee guarantees $171,429. Leased asset is carried at a book value of S450,000 in Lessor's accounting records in the Equipment general ledger account. The Icase term is 3 years. Annual lease payments of $142,653 are made on December 31st of each year. In addition, Lessee is required to make an up-front payment of $142,653 at the inception of the lease. Lessee's incremental borrowing rate is 14% Lessor's implicit rate is 15% and this rate is unknown by the Lessee. The remaining economic life of the asset is 7 years. The age of the asset is 40 years at lease inception. Required: http Problem 1 Facts: Lessee and Lessor execute lease agreement on January 1, 2020. Fair market value of leased asset at inception of lease is $950,000. Estimated residual value of asset at lease termination is $475,000 of which Lessee guarantees SO. Leased asset is carried at a book value of $950,000 in Lessor's accounting records in the Equipment general ledger account. The lease term is 3 years. Annual lease payments of $222,186 are made on December 31st of each year. In addition, Lessee is required to make an up-front payment of $222,186 at the inception of the lease. Lessee's incremental borrowing rate is 15%. Lessor's implicit rate is 11% and this rate is unknown by the Lessee. The remaining economic life of the asset is 6 years. The age of the asset is 20 years at lease inception. Required: N 1 Answers related to Lessee: 2 Lessee's classification of lease enter O for operating lease or 1 for financing lease 3 lessee's balance in Right-of-Use asset account at end of day 1/1/2020 after all entries related to the transaction have been recorded un Lessee's balance in Right-of-Use asset account at 12/31/2020 after all end-of-year adjusting 6 entries have been made. 1 lessee's balance in Right-of-Use asset account at 12/31/2021 after all end-of-year adjusting 8 entries have been made. 7 9 lessee's balance in Lease Pavable liability account at end of day 1/1/2020 after all entries relate 10 to the lease have been recorded . Lessee's balance in Lease Payable liability account at 12/31/2020 after all entries related to the 12 Mease have been recorded 13 Lessee's balance in Lease Payable liability account at 12/31/2021 after all entries related to the 14 lease have been recorded 15 16 Lessees interest expense recognized for year 2020 18 Lessees interest expense recognued for year 2021 1.9 20 Lebees amortization expense recognized for year 2020 2 22 Lesses amortization expense recognized for year 2021 24 Answers related to Lesson: 25 Lessor classification of lease enter for operating lease or 1 for sales lease 26 Lessor's balance in Lease Receivable asset account at end of day 1A/2020 after all entries related to the transaction have been recorded. If this account is not applicable, enter a 0 in the answer 27 field, 28 Lessor's balance in Lease Receivable asset account at 12/31/2020 after all end-of-year adjusting entries have been made this account is not applicable, enter a 0 in the answer field. 29 30 Lessor's balance in Lease Receivable asset account at 12/31/2021 after all end-of-year adjusting entries have been made. If this account is not applicable, enter a in the answer field. 31 32 Lessor's balance in Deferred Rent Revenue (a/k/a Deferred Lease Revenue) at end of day 1/1/2020 after all entries related to the transaction have been recorded. If this account is not applicable, 33 enter a 0 in the answer field. 34 Lessor's balance in Deferred Rent Revenue (a/k/a Deferred Lease Revenue) at 12/31/2020 after all end-of-year adjusting entries have been recorded. this account is not applicable, enter a 0 in the 35 answer field. 36 Lessor's balance in Delerred Rent Revenue (a/k/a Deferred Lease Revenue) at 12/31/2021 after all end-of-year adjusting entries have been recorded. If this account is not applicable, enter a 0 in the 37 answer field. 38 Lessor's interest revenue recognized for year 2020. If not applicable, enter a 0 in the answer field. 39 40 Lessons interest revenue recognized for year 2021. If not applicable, enter a in the answer field. 41 Lessor rent revenuela/b/lease revenuel recognized for year 2020. not applicable, enter a in 43 the answer field 44 Lessors tent revenue (a/w lease revenuel recognized for year 2021. Il not applicable, enter a in the answereld 48 Lessor's sales revenue recognized at inception of lease. If not applicable, enter a O in the answer 47 field. 48 Lessor's cost of sales recognized at inception of lease. If not applicable, enter a 0 in the answer 49 field. 50