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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%. Th payments of $40,000 each, payable semiannually on June 30 and December 31 each year. The equipment was acquired by Jamison Leasing at a cost of $360,000 and was expected to have a useful life of five years with no residual value. Both firms record amortization and depreciation semi-annually. (EV of $1. PV of $1, FVA of $1, PVA of $1 EVAD of $1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) e contract calls for four rent Required: Prepare the appropriate journal entries for the lessee from the beginning of the lease through the end of 2018. (If no entry is requiresd 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 Import a new list Record the beginning of the lease for Robertson. 2 Record the lease and interest payment for Robertson. 3 Record the amortization of right-to-use asset for Robertson Record the lease and interest payment for Robertson. Record the amortization of right-to-use asset for 4 Credit 5 Robertson

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