On June 1, 2021, Florida National leased a building. The lease agreement calls for Florida National to make lease payments of $3.618.18 each month for the next two years, with the first lease payment beginning June 30. The company's normal borrowing rate is 8%. Required: 1. Calculate the present value of the lease payments. (Hint: Use a financial calculator or Excel) (Round your answer to the nearest whole dollar amount.) PV of lease payments 2 Record the lease on June 1, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction lat Journal entry worksheet Record the lease on June 1, 2021. Note: Enter debits before credits General Journal Debit Credit Date June 01 2021 Lease Asset Lease Payable