Operating Lease Y Co. is an 80% owned subsidiary of X Company. On January 1, 2019, X leased equipment to Y under a four year operating lease agreement. The agreement calls for four rent annual payments of $10,000 at the end of each year. The interest rate is 2%. The cost of equipment is $90,000 and its useful life of the equipment is 10 years and no salvage value. Prepare all of the entries for both lessee and the lessor in 2019. Financing lease for lessee/Sales-type Lease with no Profit for Lessor: Y Co. is an 80% owned subsidiary of X Company. On January 1, 2020, X purchased equipment for $112,080 with the useful life of 8 years. On this date, X leased the equipment to Y. The term of the lease is 8 years, the annual lease payment is $15,000 payable at the beginning of each year starting on 1/1/2020, and the interest rate is 2%. Assume a financing lease for the lessee and a sales-type lease with no profit for the lessor. Prepare all of the entries for both lessee and the lessor in 2020 and 2021