A company has multiple contracts involves contracting fleets of shipping vessels, trucks, and aircraft to provide regional, long-haul, and international shipments of the customers goods. These contracts have provided details of its usefulness and some do not have an identified asset. 1.) How would you record a journal entry that shows the impact to a company that is in contract with these corporations that convey the right to control the use of the identified asset and also do not convey the right to the asset?

NOTE- some of these contracts do not meet the requirements of a lease

please provide the entries you would use with no dollar amounts.

please show entries