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-Record the lease payment for June 30, 2016. -Record the lease payment for December 31, 2016. -Record cash received. (june 30th) -Record cash received.(dec. 31)
-Record the lease payment for June 30, 2016.
-Record the lease payment for December 31, 2016.
-Record cash received. (june 30th)
-Record cash received.(dec. 31)
-Record depreciation expense. (dec 31)
On January 1, 2016, Nath-Langstrom Services, Inc., a computer software training firm leased several computers from ComputerWorld Corporation under a two-year operating lease agreement. The contract calls for four rent payments of $16,500 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by ComputerWorld at a cost of $103,000 and were expected to have a useful life of eight years with no residual value Required: Prepare the appropriate entries for the lessee (Use straight-line depreciation.) (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list view general journal Journal Entry Worksheet 1 2 Record the lease payment for June 30, 2016 Debit credit Date General Journal June 30, 2016 Enter debits before credits done clear entry record entryStep by Step Solution
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