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On January 1, 2021. Robertson Construction leased several items of equipment under a two year operating lease agreement from Jamison Leasing, which routinely finances equipment

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On January 1, 2021. 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%. The contract calls for four rent payments of $56,000 each, payable semiannually on June 30 and December 31 each year. The equipment was acquired by Jamison Leasing at a cost of $390,000 and was expected to have a useful life of six years with no residual value. Both firms record amortization and depreciation semi-annually. Required: Prepare the appropriate journal entries for the lessor (Jamison Leasing) from the beginning of the lease through the end of 2021. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) 0 View transaction list Journal entry worksheet 1 2 3 4 > Record the lease revenue received by Jamison Leasing Note: Enter debits before credits General Journal Debit Credit Date June 30.2021

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