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6 Saved Help Save & Exit Submit On January 1, 2021. Robertson Construction leased several items of equipment under a two-year operating lease agreement from

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6 Saved Help Save & Exit Submit On January 1, 2021. Robertson Construction leased several items of equipment under a two-year operating lease agreement from Jamison Leasing, which routinely finances equipment for other firms at an annual interest rate of 5%. The contract calls for four rent payments of $60,000 each, payable semiannually on June 30 and December 31 each year. The equipment was acquired by Jamison Leasing at a cost of $380,000 and was expected to have a useful life of five years with no residual value. Both firms record amortization and depreciation semi-annually. Required: Prepare the appropriate journal entries for the lessor (Jamison Leasing) from the beginning of the lease through the end of 2021. (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 Record the lease revenue received by Jamison Leasing. Note: Enter debits before credits. General Journal Debit Credit Date June 30, 2021 5 of 5 Next Record the Depreciation expense for Jamison Leasing. Note: Enter debits before credits. Date General Journal Debit Credit June 30, 2021 Record the Depreciation expense for Jamison Leasing. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021

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