Please help me with entries, I need it for exame tomorrow

0 22. (26 points) Santos Corp. is a manufacturer of truck trailers. On January 1, 2018, Santos Corp. leases ten (10) trailers to Leahy Company under a six-year noncancelable lease agreement. The following information about the lease and the trailers is provided: 1 Equal annual payments that are due on January 1 each year provide Santos Corp. with an 8% return on net investment 2. Titles to the trailers pass to Leahy at the end of the lease 3. The fair value of each trailer is $60,000. The cost of each trailer to Santos Corp. is $54,000. Each trailer 4. Collectibility of the lease payments is reasonably predictable and there are no important uncertainties has an expected useful life of nine years surrounding the amount of costs yet to be incurred by Santos Corp 54X 81. Instructions (a) What type of lease is this for Santo? Discuss. s nial Rules)? (b) What type of legse is this for Leahy? Dscuss. (c) Calculate the annual lease payment. (Round to the nearest dollar.) p 601 000 PT 12115720,1 PmT 12 157 (d) Prepare a lease amortization schedule for Santos Corp. (lessor) for the first three (3) years (2018-2020) Round to nearest dollar.) 019 47 p00 0o21,000 hy 80 13, 902 350 4 3 31,G09 121 80 61000 141 809 111 600 2 0 22. (26 points) Santos Corp. is a manufacturer of truck trailers. On January 1, 2018, Santos Corp. leases ten (10) trailers to Leahy Company under a six-year noncancelable lease agreement. The following information about the lease and the trailers is provided: 1 Equal annual payments that are due on January 1 each year provide Santos Corp. with an 8% return on net investment 2. Titles to the trailers pass to Leahy at the end of the lease 3. The fair value of each trailer is $60,000. The cost of each trailer to Santos Corp. is $54,000. Each trailer 4. Collectibility of the lease payments is reasonably predictable and there are no important uncertainties has an expected useful life of nine years surrounding the amount of costs yet to be incurred by Santos Corp 54X 81. Instructions (a) What type of lease is this for Santo? Discuss. s nial Rules)? (b) What type of legse is this for Leahy? Dscuss. (c) Calculate the annual lease payment. (Round to the nearest dollar.) p 601 000 PT 12115720,1 PmT 12 157 (d) Prepare a lease amortization schedule for Santos Corp. (lessor) for the first three (3) years (2018-2020) Round to nearest dollar.) 019 47 p00 0o21,000 hy 80 13, 902 350 4 3 31,G09 121 80 61000 141 809 111 600 2