Asking about this question below. please give me detail answers and explanations. Thanks so much.

On January 1, 2019, Rockville Inc. entered into a 9-month, non-renewable lease to rent office equipment. The lease payment is $2, 100 per month first due on January 31, 2019. The interest rate implicit in the lease is 7.2% per annum (0.6% per month) and Rockville, which has an incremental borrowing rate of 6.4% per year, knows this. Rockville has a December 31 year-end and depreciates similar equipment on a straight-line basis. Required a. Assume that Rockville Inc. elects to expense leases of a short-term nature. Prepare the journal entries for the month of January 2019. b. Assume that Rockville Inc. does not elect to expense leases of a short-term nature. Prepare the journal entries for the month of January 2019. Requirement a. Assume that Rockville Inc. elects to expense leases of a short-term nature. Prepare the journal entries for the month of January 2019. (Record debits first, then credits. Explanations are not required.) Date Accounts Debit Credit Jan. 31 2019 Requirement b. Assume that Rockville Inc. does not elect to expense leases of a short-term nature. Prepare the journal entries for the month of January 2019. Prepare the necessary journal entries for the commencement of the lease. (Record debits first, then credits. Explanations are not required. Use a financial calculator for all present value computations. Round amounts to the nearest whole dollar.) Date Accounts Debit Credit Jan. 1 2019Next, prepare the entry to show the lease liability and interest expense for month-end January 2019. (Record debits first, then credits. Explanations are not required. Round amounts to the nearest whole dollar.) Date Accounts Debit Credit Jan. 31 2019 Now prepare the entry for the depreciation on the equipment for month-end January 2019. (Record debits first, then credits. Explanations are not required. Round amounts to the nearest whole dollar.) Date Accounts Debit Credit Jan. 31 2019