ATK, Inc. recently applied for a loan with BNB Credit Union. The large loan was scrutinized thoroughly, but based on the loan officer's recommendation and the bank manager's recommendation, BNB appeared to approve it. Sadly, ATK's owner discovered some financial mistakes the day before the loan was to be approved. To ensure that the updated financial statements are sent to the credit union before a final decision is made, she has asked you to find and correct any errors as soon as possible.

Based on your review, the following issues need to be addressed:

1. The lease on a new set of equipment was incorrectly recorded as a debit to rent expense and credit to cash. A lease was signed at the beginning of 2022 and requires annual payments at the beginning of each period.

Leased assets had a market value of $1,336,000, a useful life estimate of 5 years, and no salvage value. In this lease, the lease term is 3 years with annual payments of $183,456. ATK's marginal borrowing rate is 5.%.

2. On 9/22/2022, a customer paid $180,000 for a special order. The cash receipt was recorded correctly (debit to cash and credit to unearned revenue), but no entry was made when the order was shipped on 12/31/2022. Production of the inventory cost $140,400.

3. Commissions are paid twice a year to members of the sales force. July 10th is the date when commissions are paid for sales from January - June, and January 10th is the date when commissions are paid for sales from July - December. Commissions earned during the last half of 2022 have not been entered. From July to December, total sales were $3,439,800, but only 25.5% of those sales were subject to the 7.5% commission. Commissions are included in Sales Force Salaries.

My Questions:

*Can you please help me create a journal entry from the following issues that need to be addressed #1-3? Also, show me how you got the answers?

* I have three financial statements: Multi-step Income Statement, Balance Sheet, and Statement of Cash Flows. Can you show me where the new journal entry from the following issues that need to be addressed #1-3 will go?