1. record the depreciation of the servers using the straight-line method

2.Record the amortization of the lease payable using the effective interest method

Required information [The following information applies to the questions displayed below.) On January 1 of this year, Google Corporation leased a package of high-speed servers by signing a five-year finance lease. Lease payments of $300,000 are due at the end of each year. Google uses the straight-line method to amortize leased assets and the effective interest rate method to amortize lease liabilities. Assume that the appropriate annual discount rate is 9 percent. epare the journal entries to record the reduction of the lease asset and the lease liability on December 31, Year 2. (If no entry is quired for a transaction/event, select "No journal entry required" in the first account field. Round your answers to 2 decimal aces.) View transaction list Journal entry worksheet 2 > Record the depreciation of the servers using the straight-line method. Note: Enter debits before credits. Debit Credit Transaction General Journal a. Depreciation expense I'Accounts nayable