4) LEASES Journal entry made each month: The lease has an implicit annual interest rate of 3% with a term of 3 years. The payment is $697.95 each month. PV = 697.95 * (PVIFA, i=.03/12, n=36) = 24,000

*FIRST, PROVIDE ME WITH THE MONTHLY JOURNAL ENTRIES AS IT SHOULD HAVE CORRECTLY BEEN RECORDED ((Both Operating ad Financing Lease treat like purchase of asset and note payable)

*SECOND, PROVIDE ME WITH THE Monthly ENTRY TO ADJUST THE APPICABLE ACCOUNTS.