Hi could you please complete both parts :)

1.

2.

Harbor (lessee) signs a four-year capital lease for office equipment with a $27,000 annual lease payment. The present value of the four annual lease payments is $87,000, based on a 9% interest rate. 1. Prepare the journal entry Harbor will record at inception of the lease. 2. If the leased asset has a four-year useful life with no salvage value, prepare the journal entry Harbor will record each year to recognize depreciation expense related to the leased asset View transaction list Journal entry worksheet 2 Record the journal entry Harbor will record at the inception of the lease. Note: Enter debits before credits. Transaction General Journal DebitCredit Record entry Clear entry View general journal