14-18 Harbor (lessee) signs a four-year capital lease for office equipment with a $30,000 annual lease payment. The present value of the four annual lease payments is $102,000, based on a 7% interest rate. 1. Prepare the journal entry Harbor will record at inception of the lease. 2. If the leased asset has a four-year useful life with no salvage value. prepare the journal entry Harbor will record each year to recognize depreciation expense related to the leased asset. 10 Journal entry worksheet Record the journal entry Harbor will record at the inception of the lease. ,Google html 1 14-18 a four year capital lease for offce equipment with a $30,000 annual lease payment. The present value of the four annual lease payments is S102.000, based on a 7% interest rate. 1. Prepare the journal entry Harbor will record at inception of the lease. 2. If the leased 10 points asset has a four-year useful life with no salvage value, prepare the journal entry Harbor wil record each year to recognize depreciation expense related to the leased asset Journal entry worksheet Record the annual depreciation expense on the leased equipment. Prey 1 of 1