Right-of-use asset - correct

Lease payable - correct

2. Record the cash payment

Lease payable correct

Cash - correct

3. Record the adjusting entry.

Interest expense correct

Interest payable correct

4. Record the amortization expense.

Required 2

1. Record the lease

2. Record the cash payment

3. Record the adjusting entry

4. Record the amortization expense.

Can't figure out the amounts for the first three. Please help!

Big Bucks leased equipment to Shannon Company on July 1, 2024. The lease payments were calculated to provide the lessor a 10% return. Ten annual lease payments of $36,000 are due each July 1, beginning July 1, 2024. Note: Use tables, Excel, or a financial calculator. (FV of \$1, PV of \$1, FVA of \$1, PVA of \$1, FVAD of \$1 and PVAD of \$1) Required: 1. Prepare the journal entries to record the lease by Shannon on July 1, 2024, and on December 31, 2024, the end of the reporting period. Consider this to be a finance lease. 2. Prepare the journal entries to record the lease by Shannon on July 1, 2024, and on December 31, 2024, the end of the reporting period. Consider this to be an operating lease. 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. Complete this question by entering your answers in the tabs below. Prepare the journal entries to record the lease by Shannon on July 1, 2024, and on December 31,2024, the end of the reporting period. Consider this to be a finance lease. 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. Show less