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. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (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 Computer World Leasing for the first year of the lease Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. (Round your intermediate calculations and final answers to the nearest whole dollar) General Journal Credit No 1 Date January 01, 2021 Right-of-use asset Lease payable Debit 17.500 17,500 June 30, 2021 Interest expense Lease payable Cash 762 9,238 X 10,000 June 30, 2021 9,238 Amortization expense Right-of-use asset 9,238 x December 31, 202 Interest expense Lease payable Cash 577 9,423 10,000 5 9,423 December 31, 204 Amortization expense Right-of-use asset 9.423 Required 1 Required 2 > Required 1 Required 2 Prepare appropriate journal entries recorded by Computerworld Leasing for the first year of the lease. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. (Round your intermediate calculations and final answers to the nearest whole dollar. General Journal Credit No 1 Date June 30, 2021 Debit 17.500 Cash Lease revenue 17,500 June 30, 2021 9,000 Depreciation expense Accumulated depreciation 9,000 OO OO OO OO 17,500 December 31, 202 Cash | Lease revenue 17,500 9,000 December 31, 202 Depreciation expense Accumulated depreciation 9,000 $