Starbucks Corporation is "the premier roaster, marketer and retailer of specialty coffee in the world, operating in 83 countries" with over 32,000 company-operated and licensed stores worldwide. Assume that Starbucks planned to open a new store on Beacon Street near Boston College and obtained a 14-year lease starting October 1 (the beginning of the current fiscal year). The company had to renovate the facility by installing an elevator costing $693,000. Amounts spent to enhance leased property are capitalized as intangible assets called Leasehold Improvements. The elevator will be amortized over the useful life of the lease. Required: 1. \& 2. Prepare the journal entry to record the installation of the new elevator and any adjusting entries required on September 30 (the end of the current fiscal year) related to the new elevator. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 2 > Ivote: ncer aedics re creaiss. Journal entry worksheet Record the adjusting entry on September 30 (if necessary), related to the new elevator. Note: Enter debits before credits