On January $1,2024,$ Nath$-$Langstrom Services, Incorporated, a computer software training firm, leased several computers under a two$-$year operating lease agreement from ComputerWorld Leasing, which routinely finances equipment for other firms at an annual interest rate of $4\%.$

The contract calls for four rent payments of $$14,500$ each, payable semiannually on June $30$ and December $31$ each year.

The computers were acquired by ComputerWorld at a cost of $$99,000$ and were expected to have a useful life of five years with no residual value.

Both firms record amortization and depreciation semiannually.

$2.$ Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease.