Question: Python Company leased equipment from Hope Leasing on January 1, 2021. Hope recently purchased the equipment at a cost of $304,403 There is no expected

Python Company leased equipment from Hope Leasing on January 1, 2021. Hope recently purchased the equipment at a cost of $304,403 There is no expected residual value. Required: Prepare appropriate journal entries for Python for 2021 . Assume straight-line depreciation and a December 31 yearend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amounts.) Journal entry worksheet Record the entry to lease the equipment from Hope Leasing on January 01, 2021. Note: Enter debits before credits. Leasing on January 01,2021. 2 Record the cash paid for annual payment. 3 Record the entry for interest expense. 4 Record the entry for amortization expense

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