Recording Operating Lease Journal Entries Lessee

Gomez Inc. leases a vehicle from CareMax Inc. on January 1, 2020, for a three-year period, appropriately classified by Gomez Inc. as an operating lease. Gomez agrees to make $6,000 annual payments beginning on January 1, 2020. Prepare the journal entries for Gomez in 2020 assuming that Gomez is aware of the rate implicit in the lease of 6%.

a. January 1, 2020Record the right-of-use asset.

b. January 1, 2020Record the lease payment.

c. December 31, 2020Record the adjusting entry.

• Note: Round your answers to the nearest whole dollar.
• Note: List multiple debits or credits (when applicable) in alphabetical order.

	Date	Account Name	Dr.	Cr.
a.	Jan. 1, 2020
b.	Jan. 1, 2020
c.	Dec. 31, 2020