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Exercise 15-17 (Algo) Lessee and lessor; operating lease [L015-4] On January 1, 2024, Nath-Langstrom Services, Incorporated, a computer software training firm, loased several computers under a twoyear operating lease agreement from Computerworld Leasing, which routinely finances equlpment for other firms at an annual Interest rate of 4%. - The contract cals for four rent payments of $13,500 each, payable semlannually on June 30 and December 31 each year. - The computers were acquired by ComputerWorld ot a cost of $97,000 and were expected to have a useful iffe of five years with no residual value. - Both firms record amortization and depreciation semiannualy. Note: Use tables, Excel, or a financial calculator, (EV ofs1, pV of \$1, EVA of S1, pVA of S1, EVAR of St and PVAD of \$1) Required: 1. Prepare appropriate journal entiles recorded by Nath-Langstrom Semices for the first year of the lease. 2. Prepare appropriate joumal entries recorded by ComputerWorld Leasing for the first year of the lease. 1 Record the beginning of the lease for Nath-Langstrom Services. 2 Record the lease payment made by Nath-Langstrom Services. 3 Record amortization for Nath-Langstrom Services. 4 Record the lease payment made by Nath-Langstrom Services. 5 Record amortization for Nath-Langstrom Services. 1 Record the beginning of the lease for ComputerWorld Leasing. 2 Record the lease payment received by ComputerWorld Leasing. 3 Record depreciation for ComputerWorld Leasing. 4 Record the lease payment received by ComputerWorld Leasing. 5 Record depreciation for Computerworld Leasing