Recording Sales-Type Lease, Residual Value-Lessor Dunlap Company leased a large copier to Rust Company for a three-year period. Dunlap paid $45,000 for the copier and immediately leased it on January 1, 2020 (estimated useful life is four years, and Dunlap expects the expected residual value at the end of the lease term is $9,000). Dunlap used an expected rate of return of 6% (known by Rust). The lessee agreed to guarantee two-thirds ($6,000) of the residual value. The first lease payment is due on January 1, 2020, and the accounting periods for both entities end on December 31. At the lease termination date, an independent appraiser provided an estimated residual value of $4,500. The lessee immediately paid the difference of $1,500 ($6,000 guaranteed residual value minus $4,500, the actual residual value). Required a. Compute the lease payment for the lessor and the lease receivable to be capitalized by the lessor, Note: Round answer to the nearest dollar, Note: Do not use a negative sign with your answer. Lease payments Lease receivables D Journal Entries: Collection is probable Journal Entries: Collection is Not Probable b. Provide the entries for the lessor on January 1, 2020. Note: Round your answers to the nearest whole dollar. Dr. Cr. Date Account Name Jan. 1, 2020 Lease Receivable 0 0 To record lease receivable Jan. 1.2020 Cash 0 Lease Receivable 0 To record receipt of lease payment C. Provide the entries for the lessor through the lease term. . Note: List multiple debits or credits (when applicable) in alphabetical order. Note: Round your answers to the nearest whole dollar. Note: List multiple debits or credits (when applicable) in alphabetical order. Note: Round your answers to the nearest whole dollar. Date Account Name Dr. Cr. Dec. 31, 2020 0 0 0 0 To record interest Jan. 1, 2021 0 0 0 0 To record receipt of lease payment Dec. 31, 2021 0. o O 0 To record interest Jan. 1, 2022 . 0 o o 0 To record receipt of lease payment Dec. 31, 2022 0 o o 0 To record interest Jan. 1, 2023 0 0 O O O o o o To record return of equipment Please answer all parts of the question. Recording Sales-Type Lease, Residual Value-Lessor Dunlap Company leased a large copier to Rust Company for a three-year period. Dunlap paid $45,000 for the copier and immediately leased it on January 1, 2020 (estimated useful life is four years, and Dunlap expects the expected residual value at the end of the lease term is $9,000). Dunlap used an expected rate of return of 6% (known by Rust). The lessee agreed to guarantee two-thirds ($6,000) of the residual value. The first lease payment is due on January 1, 2020, and the accounting periods for both entities end on December 31. At the lease termination date, an independent appraiser provided an estimated residual value of 54,500. The lessee immediately paid the difference of 51,500 ($6,000 guaranteed residual value minus $4,500, the actual residual value). Required a. Compute the lease payment for the lessor and the lease receivable to be capitalized by the lessor, . Note: Round answer to the nearest dollar. Note: Do not use a negative sign with your answer. Lease payments Lease receivables Journal Entries: Collection is probable Journal Entries: Collection is Not Probable d. Instead assure that the collectibility of the lease payments by Rust Company was not probable. Record the required entry on January 1, 2020, Date Account Name Dr. Cr. Jan. 1.2020 Please answer all parts of the question Recording Sales-Type Lease, Residual Value-Lessor Dunlap Company leased a large copier to Rust Company for a three-year period. Dunlap paid $45,000 for the copier and immediately leased it on January 1, 2020 (estimated useful life is four years, and Dunlap expects the expected residual value at the end of the lease term is $9,000). Dunlap used an expected rate of return of 6% (known by Rust). The lessee agreed to guarantee two-thirds ($6,000) of the residual value. The first lease payment is due on January 1, 2020, and the accounting periods for both entities end on December 31. At the lease termination date, an independent appraiser provided an estimated residual value of $4,500. The lessee immediately paid the difference of $1,500 ($6,000 guaranteed residual value minus $4,500, the actual residual value). Required a. Compute the lease payment for the lessor and the lease receivable to be capitalized by the lessor, Note: Round answer to the nearest dollar, Note: Do not use a negative sign with your answer. Lease payments Lease receivables D Journal Entries: Collection is probable Journal Entries: Collection is Not Probable b. Provide the entries for the lessor on January 1, 2020. Note: Round your answers to the nearest whole dollar. Dr. Cr. Date Account Name Jan. 1, 2020 Lease Receivable 0 0 To record lease receivable Jan. 1.2020 Cash 0 Lease Receivable 0 To record receipt of lease payment C. Provide the entries for the lessor through the lease term. . Note: List multiple debits or credits (when applicable) in alphabetical order. Note: Round your answers to the nearest whole dollar. Note: List multiple debits or credits (when applicable) in alphabetical order. Note: Round your answers to the nearest whole dollar. Date Account Name Dr. Cr. Dec. 31, 2020 0 0 0 0 To record interest Jan. 1, 2021 0 0 0 0 To record receipt of lease payment Dec. 31, 2021 0. o O 0 To record interest Jan. 1, 2022 . 0 o o 0 To record receipt of lease payment Dec. 31, 2022 0 o o 0 To record interest Jan. 1, 2023 0 0 O O O o o o To record return of equipment Please answer all parts of the question. Recording Sales-Type Lease, Residual Value-Lessor Dunlap Company leased a large copier to Rust Company for a three-year period. Dunlap paid $45,000 for the copier and immediately leased it on January 1, 2020 (estimated useful life is four years, and Dunlap expects the expected residual value at the end of the lease term is $9,000). Dunlap used an expected rate of return of 6% (known by Rust). The lessee agreed to guarantee two-thirds ($6,000) of the residual value. The first lease payment is due on January 1, 2020, and the accounting periods for both entities end on December 31. At the lease termination date, an independent appraiser provided an estimated residual value of 54,500. The lessee immediately paid the difference of 51,500 ($6,000 guaranteed residual value minus $4,500, the actual residual value). Required a. Compute the lease payment for the lessor and the lease receivable to be capitalized by the lessor, . Note: Round answer to the nearest dollar. Note: Do not use a negative sign with your answer. Lease payments Lease receivables Journal Entries: Collection is probable Journal Entries: Collection is Not Probable d. Instead assure that the collectibility of the lease payments by Rust Company was not probable. Record the required entry on January 1, 2020, Date Account Name Dr. Cr. Jan. 1.2020 Please answer all parts of the