Kindly solve for me the above lease question.Thank you

2. 2 THE Flare drilling COMPANY TIEEd& THO NIE` trailers, Each having An Estimated SERVICElife Of 1 2 Years . THE trailers could LIE purchased for CHED, LOU Each , but I ]are HOES DIDIt*have ETiqueHI cash to pay for them . Instead, `]are GEFEES to LEASE Trailer 1 for Fully"WEARE, after {tuch the trailer remains the property Of the lesson. In addition , ClareGETEES to LEASE Trailer & for six Years , after which the trailer remains the FOOTIEITY !IFthe LEEGar . According to the LEASE contracts , Glare must pay Child, JUD annually forEach trailer , with the HAVINGTITE to LIE Made at the END Of Each LEGGE Wear . Fathi LEASES`E'LE FIFTIES OIL LIECETTIGET a1, ZOUG, at `tuch HimME THE FREE ailing Interest rateavailable to Flare for Equipment loans was 14 }.FLEquiRED:& DIETERTILINE `TIEthEr Each Of THESE TWO LEASE & IS QUI QUErating Or Capital LEASE .G . FTETIATE ATITY REQUIRED ENTRIES to record Entering into the LEASE Of jaj Trailer ! {`JI`Zij Trailer Z .FREDIare the ENTRIES required On DECEMBER 21 , 2014, for laj Trailer 1 and 1zijTrailer Z . LEE Straight- line depreciation for any capital LEASES . [FLEMNEITHEr if theBE GET FETTIGITIS THE LIZZIETY Of THE LESSOr , the LEESEE Must take HEFTEdation OF Er THECapital LEGGEI