Exercise $15-17($Algo$)$ Lessee and lessor; operating lease LO$15-4$ On January $12024,$ Nath$-$Langstrom Services Incorporated, a computer software training firm, leased several computers under a two$-$ year operating lease agreement from ComputerWorld Leasingwhich routinely finances equipment for other firms at an annual interest rate of $4\%$ The contract calls for four rent payments of $$15,000$ each payable semiannually on June $30$ and December $31$ each year The computers were acquired by ComputerWorld at a cost of $$100,000$ and were expected to have a useful life of five years with no residual value. Both firms record amortization and depreciation semiannually Note: Use tables Excel, or a financial calculator $($FV of $1$PV of $1$FVA of PVA of $1$EVAD of $$1$ and PVAD of $1)$ Required: Prepare appropriate journal entries recorded by Nath$-$Langstrom Services for the first year of the lease Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease