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On January 1, 2018, Robertson Construction leased several items of equipment under a two-year operating lease agreement from Jamison Leasing, which routinely finances equipment for

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On January 1, 2018, Robertson Construction leased several items of equipment under a two-year operating lease agreement from Jamison Leasing, which routinely finances equipment for other firms at an annual Interest rate of 4%. The contract calls for four rent payments of $42,000 each, payable semiannually on J acqui Both firms record amortization and depreciation semi-annually. une 30 and December 31 each year. The equipment was red by Jamison Leasing at a cost of $362,000 and was expected to have a useful life of five years with no residual value. Required: Prepare the appropriate journal entries for the lessor (Jamison Leasing) from the beginning of the lease through the end of 2018. (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 amounts.) View transaction list Journal entry worksheet 2 Record the lease revenue received by Jamison Leasing Note: Enter debits before credits Credit Debit General Journal Date June 30, 2018 View general journal Clear entry Record entry

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