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Big Bucks leased equipment to Shannon Company on July 1, 2018. The lease payments were calculated to provide the lessor a 0 return. Nine annual

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Big Bucks leased equipment to Shannon Company on July 1, 2018. The lease payments were calculated to provide the lessor a 0 return. Nine annual lease payments of $41,000 are due each July 1, beginning July 1,2018 (EY of S1, PV of $1. EVA of S1. PVA of $1 EVAD of $1 and PVAD of St) (Use appropriate factorts) from the tables provided.) Required: L Prepare the journal entries to record the lease by Shannon at July 1, 2018, and at December 31, 2018, the end of the reporting period. Consider this to be a finance lease. 2. Prepare the journal entries to record the lease by Shannon at July 1, 208, and at December 31, 2018, the end of the reporting period. Consider this to be an operating lease. Complete this question by entering your answers in the tabs below Required quired 2 Prepare the yournal entries to record the lease by Shanon at Xuly 1, 2018, and at December 31, 2018, the end of the reporting period. Consider this to be a finance leese. (If no entry is required for a transaction/event, select "No yournal entry requaired in the frst account Seld. Round your answers to the nearest whole dolar arnounts) Journal entry worksheet Record the eae July 01, 2058 option command

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