On January 1, 2015, a city entered into the following leases for equipment items. Each of the leases qualifies as a capital lease. Initial payments are on December 31, 2015. An interest rate of 14 percent is viewed as appropriate. No bargain purchase options exist. Annual Payments Payments of Total Payments Total Present Value Fund General (10-year life) 1,800 Enterprise (4-year life) 10,100 $ 18,000 $11,200 33,300 40,400 a. Prepare journal entries for the year 2015 for both of these leases for government-wide financial statements. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 Record the entry for capital lease at the beginning of the year. Note: Enter debits before credits Date General Journal Debit Credit January 01, 2015 Record entry Clear entry View general journal