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The contract calls for four rent payments of $ 5 8 , 0 0 0 each, payable semiannually on June 3 0 and December 3

The contract calls for four rent payments of $58,000 each, payable semiannually on June 30 and December 31 each
year. The equipment was acquired by Jamison Leasing at a cost of $378,000 and was expected to have a useful life of
five years with no residual value. Both firms record amortization and depreciation semi-annually.
Required:
Prepare the appropriate journal entries for the lessor (Jamison Leasing) from the beginning of the lease through the end
of 2024.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
(1) Record the first payment received by
Jamison Leasing.
2 Record the amortization or depreciation
expense for Jamison Leasing.
(3) Record the second payment received by
Jamison Leasing.
4 Record the amortization or depreciation
expense for Jamison Leasing.
Note : = journal entry has been entered
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