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17. On Jan 1, 2019, XYZ Corp leased equipment for $5,000 per month for 7 years with a noncancelable lease, title does not transfer and no option to repurchase the equipment. The equipment has a useful life of 10 years. XYZ Corp make payments at the ending of each year. XYZ Corp report for this equipment for the year ended December 31, 2019, should be (3 Points) Dr. Rent expense $60,000 C. Lease liability $35,000 Gr. Rent expense $35,000 Dr. Lease liability $60,000 18. On June 30, 2019, XYZ Corp leased equipment for $9,000 per month for 8 years with noncancelable lease, title does not transfer and no option to repurchase the equipment. The equipment has a useful life of 10 years. XYZ Corp make payments at the ending of each year. XYZ report for this equipment for the year ended December 31, 2019, should be (3 Points) Dr. Rent expense $108,000 General 16:57 DeLease liability $54,000 IA Dr. Rent expense $54,000 Your microphone Cr Lease liability $108,000