q11 (b) financial accounting II

Three different lease transactions are presented below for Crane Enterprises. Assume that all lease transactions start on January 1. 2024. Crane does not receive title to the properties, either during the lease term or at the end of it. The yearly rental for each of the teases is paid at the beginning of each year. Crane Enterprises prepares its financial statements using ASPE. How should the lease transaction for each of the above assets be recorded on January 1, 2024? (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry Is required, select "No Entry" for the account titles and enter O for the amounts.)