Required: $1.$ Prepare the appropriate entries for Neely BBQ $($Lessee$)$ on January $1,2024,$ and December $31,2024.2.$ Prepare the appropriate entries for Smoke Industries $($Lessor$)$ on January $1,2024,$ and December $31,2024.$ Assume that control is transferred to the lessee. $3.$ Prepare the appropriate entries for Smoke Industries $($Lessor$)$ on January $1,2024,$ and December $31,2024.$ Assume that control is not transferred to the lessee. Answer is not complete.

Complete this question by entering your answers in the tabs below.

Required $1$

Prepare the appropriate entries for Neely BBQ $($Lessee$)$ on January $1,2024,$ and December $31,2024.$

Note: 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.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|$c$|$c$|\}$

$\backslash$hline No & date & & General Journal & Debit & Credit $\backslash \backslash$

$\backslash$hline $1$ & January $01,2024$ & Right$-$of$-$use asset & $\backslash (\backslash$checkmark $\backslash )$ & $1,349,622$ & $\backslash \backslash$

$\backslash$hline & & Lease payable & $\backslash (\backslash$checkmark $\backslash )$ & & $1,349,622\backslash \backslash$

$\backslash$hline & & & & & $\backslash \backslash$

$\backslash$hline $2$ & January $01,2024$ & Lease payable & & $376,000$ & $\backslash \backslash$

$\backslash$hline & & Cash & $($ & & $376,000\backslash \backslash$

$\backslash$hline & & & & & $\backslash \backslash$

$\backslash$hline $3$ & December $31,202$ & Lease payable & $()$ & $77,890$ & $\backslash \backslash$

$\backslash$hline & & Interest expense & $\backslash (\backslash$bigcirc $\backslash )$ & $298,110$ & $\backslash \backslash$

$\backslash$hline & & Cash & $\backslash (\backslash$bigcirc $\backslash )$ & & $376,000\backslash \backslash$

$\backslash$hline & & & & & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$ Prepare the appropriate entries for Neely BBQ $($Lessee$)$ on January $1,2024,$ and December $31,2024.$

Note: 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

$1$

$2$

$3$

$4$

Record the amortization of right$-$to$-$use asset for Neely BBQ$.$

Note: Enter debits before credits.