On January 1, 2019, Devens Inc, entered into a 8-month non-renewable lease to rent office equipment. The lease payment is $2,000 per month first due on January 31, 2019 The interest rate implicit in the lease s 8.4% per annum (07% per month and Devens, which has an incremental borrowing rate of 76% per year, knows this Devens has a December 31 year-end and depreciates similar equipment on a straight-ine basis Required a. Assume that Devens Inc. elects to expense leases of a short-term nature Prepare the journal entries for the month of January 2019. b. Assume that Devens Inc does not elect to expense leases of a short-term nature Prepare the journal entries for the month of January 2019 a