Company Z leased a warehouse for 10 years at 120,000 per annum w payment at each year end.

The contract imputes notarial and admin fees of 50k for the account of Company Z. Company Z has full use

and have control over the lease asset. Distmantling costs of 100k is projected by the lessee after 10 years.

At inception of the contract, bank interest rate is 7%.

1. what is/ are the Journal entiries of Company Z for year 1.

2. what is/are the Journal entries of Company Z on year 2

3. Show the Journal entry of Company Z on year 10