Analyze this information to determine how to account for each contract in accordance with the new leasing standard. Your answer should include the following:

1. Sample journal entries for each contract, which you should refer to in your letter (also not to exceed one page); and

2. Your documented research and notes (no limit on pages). This portion of your submission should (a) demonstrate alternatives and how you chose among them and (b) document authoritative literature and other sources used to arrive at your conclusion.

Please answer each question separately.