Chance Enterprises leased equipment from Third Bank Leasing on January $1,2024.$ Chance elected the short$-$term lease option. Appropriate adjusting entries are made annually.

Required:

Prepare appropriate entries for Chance from the beginning of the lease through April $1,2024.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

$1$ Record the beginning of the lease for Chance.

$2$ Record the lease payment made by Chance.

$3$ Record the lease payment made by Chance.

$4$ Record the lease payment made by Chance.

$5$ Record the lease payment made by Chance.

Credit

Note : $=$ journal entry has been entere