help

Chance Enterprises leased equipment from Third Bank Leasing on January 1, 2021. Chance elected the short-term lease option Appropriate adjusting entries are made annually. Related Information: Lease ter Monthly lease payments Economic life of asset Interest rate charged by the lessor 1 year (12 monthly periods) $44,8ee at Jan. 1, 2021, through Dec. 1, 2021. 5 years Required: Prepare appropriate entries for Chance from the beginning of the lease through April 1, 2021 (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet