Part C is the question that needs to be answered, but will require portions of Parts A and B to answer Part C.

please note that parts of Part B were marked as incorrect due to either wrong assigned accounts or wrong number.

the last image is to give full scope on the number of accounts involved in part C.

a) Your answer is correct. On January 1, 2020, Martinez Inc sold computer equipment to Tamarisk Co. The sales price of the equipment was $518,000 and its carrying amount is $ 412,000. Record any journal entries necessary for Martinez from the sale of the computer equipment in 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 1/1/20 Cash 518,000 Equipment 412,000 Gain on Disposal of Equipment 106,000 e Textbook and Media List of Accounts Assistance Used Attempts: 2 of 3 used tiva Go to (b) 1.71/3 ili Your answer is partially correct. Use the information from part a. Assume that, on the same day the sale occurred, Martinez enters into an agreement to lease the equipment from Tamarisk for 10 years with annual lease payments of $ 67,083.41 at the end of each year, beginning on December 31, 2020. If Martinez has an incremental borrowing rate of 5% and the equipment has an economic useful life of 10 years, record any journal entries necessary for Martinez from the sale and leaseback of computer equipment in 2020. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. Round answers to 2 decimal places, es 5,275.25. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit /1/20 Leased Equipment 518.000 Lease Liability 518.000 1/31/20 Lease Liability 41,183 Interest Expense 25.900 Cash 6708tivate Loose (C) Use the information from part b. Now, instead of 10 years, the lease term is only 3 years with annual lease payments of $ 67,083.41 at the beginning of each year. Record any journal entries necessary for Martinez from the sale and leaseback of computer equipment in 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually, Round answers to 2 decimal places, eg,5,275.25. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record sale of equipment) (To record the lease) Activate ii Date Account Titles and Explanation Debit Credit (To record sale of equipment) (To record the lease) (To record lease payment) V Activate Esto Set