2 Residential Ltd (lessee) leased a building from Commercial Ltd (lessor) vreement contained the following: term 10 years Annual rent payment, in advance (commencing 1/7/2020) $50,000 Subsequent payments are due on 1 July in following years Residual value at end of lease term $5,000 Pesidual guarantee paid by lessee at end of lease $3,000 interest rate implicit in lease 5% Right-of-use Asset on 1 July 2020-measured at NPV $407,242 Lease Receivable on 1 July 20-measured at NPV $358,470 Reguired: Prepare all journal entries fort e year ended 30th June 2021 for both the lessee (Residential Ltd) and the lessor (Commercial Ltd). Narrations are not required. Round your answer a zero decimal places. 125 marks)