On January 1, 2024, Winn Heat Transfer leased office space under a three-year operating lease agreement. The arrangement specified three annual lease payments of $102,000 each, beginning December 31, 2024, and on each December 31 through 2026. The lessor, HVAC Leasing, calculates lease payments based on an annual interest rate of 8%. Winn also paid a $282,000 advance payment at the beginning of the lease. With permission of the owner, Winn made structural modifications to the building before occupying the space at a cost of $384,000. The useful life of the building and the structural modifications were estimated to be 30 years with no residual value.

Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)

Required:

Prepare the appropriate entries for Winn Heat Transfer from the beginning of the lease through the end of 2026. Winns fiscal year is the calendar year.

Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar.

5 Record the amortization for Winn. 6 Record depreciation for Winn. 7 Record the lease and interest payment for Winn. 8 Record the amortization for Winn. 9 Record depreciation for Winn. 10 Record the lease and interest payment for Winn. 11 Record the amortization for Winn. 12 Record depreciation for Winn. Note : = journal entry has been entered \begin{tabular}{|c|c|c|c|} \hline No & Date & General Journal & \\ \hline \multirow[t]{2}{*}{1} & January 01,2024 & Right-of-use asset & 0 \\ \hline & & Lease payable & 0 \\ \hline \multirow[t]{2}{*}{2} & January 01,2024 & Prepaid expense & \\ \hline & & Cash & 0 \\ \hline \multirow[t]{2}{*}{3} & January 01,2024 & Leasehald improvements & 0 \\ \hline & & Cash & \\ \hline \multirow[t]{3}{*}{4} & December 31,202 & Interest expense & 2 \\ \hline & & Lease payable & 2 \\ \hline & & Cash & 0 \\ \hline \multirow[t]{2}{*}{5} & December 31,202 & Ambrization expense & 2 \\ \hline & & Right-of-use asset & 0 \\ \hline \multirow[t]{2}{*}{6} & December 31,202 & Depreciation expense & 0 \\ \hline & & Accumulated depreciation - leasehold improvement & \\ \hline \multirow[t]{3}{*}{7} & December 31,202 & Interest expense & 2 \\ \hline & & Lease payable & 0 \\ \hline & & Cash & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline No & Date & General Journal & & Deblt & Credit \\ \hline \multirow[t]{2}{*}{1} & Jarnuary 01,2024 & Right-of-use asset & 0 & & \\ \hline & & Lease payable & 0 & & \\ \hline \multirow[t]{2}{*}{2} & Jarnuary 01,2024 & Prepaid expense & & & \\ \hline & & Cash & 0 & & \\ \hline \multirow[t]{2}{*}{3} & January 01,2024 & Leasehald improvernents & 0 & & \\ \hline & & Cash & 2 & & \\ \hline \multirow[t]{3}{*}{4} & December 31,202 & Interest expense & & & \\ \hline & & Lease payable & 0 & & \\ \hline & & Cash & 0 & & \\ \hline \multirow[t]{2}{*}{5} & December 31,202 & Amortization expense & & & \\ \hline & & Right-af-use asset & 0 & & \\ \hline \multirow[t]{2}{*}{6} & December 31,2024 & Depreciation expense & & & \\ \hline & & Accumulated depreciation - lessehold improvement & 2 & & \\ \hline \multirow[t]{3}{*}{7} & December 31,2025 & Interest expense & & & \\ \hline & & Lease payable & 2 & & \\ \hline & & Cash & 0 & & \\ \hline \multirow[t]{2}{*}{8} & December 31,2025 & Amortization expense & 0 & & \\ \hline & & Right-of-use asset & 0 & & \\ \hline \multirow[t]{2}{*}{9} & December 31,2028 & Depreciation expense & & & \\ \hline & & Accumulated depreciation - lessehold improvement & & & \\ \hline \multirow[t]{2}{*}{10} & December 31,2026 & Interest expense & & & \\ \hline & & Lease payable & 2 & & \\ \hline \multirow[t]{2}{*}{11} & December 31,2026 & Amortization expense & & & \\ \hline & & Right-of-use asset & 2 & & \\ \hline \multirow[t]{2}{*}{12} & December 31,2026 & Depreciation expense & & & \\ \hline & & Accumulated depreciation - Ieasehold improvernent & & & \\ \hline \end{tabular} Record the beginning of the lease for Winn. 2 Record the advance payment made at the beginning of the lease by Winn. 3 Record the purchase of the leasehold improvements by Winn. 4 Record the lease and interest payment for Winn. 5 Record the amortization for Winn. 6 Record depreciation for Winn. 7 Record the lease and interest payment for Winn. Note : = journal entry has been entered