FV of $1

PV of $1

Thble if Future value of $1 On January 1, 2024. Duncan-Lang Services, Incorporated a computer software training firm, feased several computers under a two-year operating lease agreement from Neble Leasing, which routinely finances equipment for other firms at an annual interest rate of 4%. The contract calls for four rent payments of $40,000 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by Neble at a cost of $360,000 and vere expected to have a useful life of five years with no residual value. Appropriate adjusting entries are recorded at the end of each quarter Note: Use tables, Excel, or a financial calculator. (FV of \$1. PV of \$1. EVA of \$1, PVA of \$1. EVAD of \$1 and PVAD of \$1) Required: Prepare the appropriate journal entries for both (a) the lessee and (b) the lessor from the beginning of the lease through the end of 2024 Complete this question by entering your answers in the tabs below. repare the appropriate joumal entries for the lessee from the beginning of the lease through the end of 2024. ote: If no entry is required for a transaction/event, select "No joumal entry required" In the first account field. Round your answers to the nearest Compiete tnis question by entering your answers in the tads beiow. Prepare the appropriate journal entries for the lessee from the beginning of the lease throu Note: If no entry is required for a transaction/event, select "No journal entry required" in whole dollar amounts. Journal entry worksheet 45 Record the beginning of the lease. Note: Enter debits before credits. Prepare the appropriate journal entries for the lessor from the beginning of the lease thr Note: If no entry is required for a transaction/event, select "No journal entry required" whole dollar amounts. Journal entry worksheet Record the cash received. Note: Enter debits before credits