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SEW Goalposts Ltd leases a truck from the NERU Bank so that it can deliver goalposts to its customers on 1 July 211115. Lease payments

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SEW Goalposts Ltd leases a truck from the NERU Bank so that it can deliver goalposts to its customers on 1 July 211115. Lease payments of 523,000 are required annually in advance for 5 years (payable 3:] June], and a residual payment of $6,592 is required. The implicit interest rate in the lease is 10% pa. The u'uclt has a useful life of If] years with a salvage value of 510,000. muted Record the necessary journal entries for SEW Goalposts on the following dates 1. 1 July 2015 2. 3E] June 2:115 3. 3121 June 2:113

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