TR18-2 Low-Value Leases: (LO 18-1) Argyle Ltd. signed a 24-month lease to rent a new computer for $120 per month. The fair value of the computer is $2,500. The lease will commence on 1 November 20X1 with payments beginning immediately. Assume that Argyle Lid's IBR is 06% per month Argyle is unaware of the implicit rate in the lease. (PV $1. PVA of $1. and PVAD OLS1) (Use oppropriate foctor(s) from the tables provided) Required: 1-a. Is Argyle Ltd. able to account for this lease as a low value lease? Yes ONo 1-5. What journal entry would be recorded for this lease? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet