On January 1, 2021, ALPHA Services, a training firm, leased several computers from BETA Corporation under a 3 years lease agreement. The contract calls for 6 rent payments of $10,000 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by BETA at a cost of $70,000 and were expected to have a useful life of 7 years with no residual value. ALPHAs incremental borrowing rate is 10% per annum.

Required: 1. Prepare the appropriate entries for the lessor (Use straight-line depreciation.)