b and c both hprizontal and journal entry

also answer of D

On January 1, 2019. Carey Inc, entered into a noncancelable lease agreement agreeing to pay $3.398 at the end of each year for 4 years to acquire a new computer system having a market value of $9,901. The expected useful le of the computer system is also 4 years, and the computer will be depreciated on a straight line basis with no salvage value. The interest rate used by the lessor to determine the annual payments was 14%. Under the terms of the lease, Carey has an option to purchase the computer for ston January 1, 2023. See Table 6-5. (Use the appropriate factor by clicking on the Table link.) Required: a. Should Carey Inc. account for this lease as a financing lease or an operating lease? b. Prepare the horizontal model and record the journal entry that Carey inc. should make on January 1, 2010. (Mint First determine the present value of future lease payments) c. Prepare the horizontal model and record the journal entry that Carey Inc. should make on December 31, 2019, to record the first annual lease payment of $3,398. (Hint Based on your answer to part b, determine the appropriate amounts for interest and principal) indicate the financial statement effect d. What expenses (Include amounts) should be recognized for this lease on the income statement for the year ended December 31 2019? e. The accounting for an asset acquired under a capital lease