7.69 9 points Chance Enterprises leased equipment from Third Bank Leasing on January 1, 2021. Chance elected the short-term lease option. Appropriate adjusting entries are made annually. Related Information: Lease term Monthly lease payments Economic life of asset 1 year (12 monthly periods) $50,000 at Jan. 1, 2021, through Dec. 1, 2021. 5 years Interest rate charged by the lessor 10% eBook) Hint References Required: Prepare appropriate entries for Chance from the beginning of the lease through April 1, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 2 3 4 5 Record the beginning of the lease for Chance. Note: Enter debits before credits. Date January 01, 2021 General Journal Debit Credit Record entry Clear entry View general journal Charice elected the short-term lease option. Lease term Related Information: Economic life of asset Monthly lease payments www.anually. Interest rate charged by the lessor equired: 1 year (12 monthly periods) $50,000 at Jan. 1, 2021, through Dec. 1, 2021. 5 years 10% epare appropriate entries for Chance from the beginning of the lease through April 1, 2021. (If no entry is required for a ansaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar mount.) View transaction list Journal entry worksheet < 1 2 3 4 5 Record the lease payment made by Chance. Note: Enter debits before credits. Date January 01, 2021 General Journal Debit Credit View general journal Record entry Clear entry eBook Hint References Lease term Monthly lease payments Economic life of asset Interest rate charged by the lessor Required: 1 year (12 monthly periods). $50,000 at Jan. 1, 2821, through Dec. 1, 2021. 5 years 10% Prepare appropriate entries for Chance from the beginning of the lease through April 1, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet < 1 2 3 4 5 Record the lease payment made by Chance. Note: Enter debits before credits. Date February 01, 2021 General Journal Debit Credit Record entry Clear entry View general journal vidtion: Lease term Monthly lease payments Economic life of asset Interest rate charged by the lessor Required: 1 year (12 monthly periods) $50,000 at Jan. 1, 2021, through Dec. 1, 2021. 5 years 10% Prepare appropriate entries for Chance from the beginning of the lease through April 1, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet < 1 2 3 4 5 Record the lease payment made by Chance. Note: Enter debits before credits. Date March 01, 2021 General Journal Debit Credit Record entry Clear entry View general journal Chance Enterprises leased equipment from Third Bank Leasing on January 1, 2021. Chance elected the short-term lease option. Appropriate adjusting entries are made annually. Related Information: Lease term Monthly lease payments Economic life of asset Interest rate charged by the lessor 1 year (12 monthly periods) $50,000 at Jan. 1, 2021, through Dec. 1, 2021. 5 years 10% Required: Prepare appropriate entries for Chance from the beginning of the lease through April 1, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet < 1 2 3 4 5 Record the lease payment made by Chance. Note: Enter debits before credits. Date April 01, 2021 General Journal Debit Credit View general journal Record entry Clear entry