On January 1, 2021, Nath Langstrom Services, Inc,, a computer software training firm, leased several computers under a two year operating lease agreement from ComputerWorld Leasing. which routinely finances equipment for other firms at an annual interest rate of 4%. The contract calls for four rent payments of $17,500 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by ComputerWorld at a cost of $105,000 and were expected to have a useful life of six years with no residual value. Both firms record amortization and depreciation semiannually. (EV of \$1. PV of \$1. EVA of \$1, PVA of \$1. EVAD of \$1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. 2. Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease