The following are a series of unrelated situations. Answer the questions relating to each of the following independent situations as requested: 8) The following facts pertain to a non-cancelable lease agreement between Mooney Leasing (Lessor) and Choi Group (Lessee) (amounts in thousands). The lease agreement provides for the transfer of title of the leased equipment to the lessee at the end of the lease term. The leased equipment is not of a specialized nature. The collectibility of the lease payments by Mooney is probable. Required: a) Prepare a lease amortization schedule for Choi for the 5 -year lease term. b) Prepare the journal entries on the lessee's books to reflect the signing of the lease agreement and to record the payments and expenses related to this lease for the years 2022 and 2023. Choi's annual accounting period ends on December 31 . Reversing entries are used by Choi. c) Discuss the nature of this lease for Mooney and compute the amount of the lease receivable at commencement of the lease. d) Prepare the journal entries to reflect the signing of the lease agreement and to record the receipts and income related to this lease for the years 2022 and 2023. The lessor's accounting period ends on December 31. Reversing entries are not used by Mooney. The following are a series of unrelated situations. Answer the questions relating to each of the following independent situations as requested: 8) The following facts pertain to a non-cancelable lease agreement between Mooney Leasing (Lessor) and Choi Group (Lessee) (amounts in thousands). The lease agreement provides for the transfer of title of the leased equipment to the lessee at the end of the lease term. The leased equipment is not of a specialized nature. The collectibility of the lease payments by Mooney is probable. Required: a) Prepare a lease amortization schedule for Choi for the 5 -year lease term. b) Prepare the journal entries on the lessee's books to reflect the signing of the lease agreement and to record the payments and expenses related to this lease for the years 2022 and 2023. Choi's annual accounting period ends on December 31 . Reversing entries are used by Choi. c) Discuss the nature of this lease for Mooney and compute the amount of the lease receivable at commencement of the lease. d) Prepare the journal entries to reflect the signing of the lease agreement and to record the receipts and income related to this lease for the years 2022 and 2023. The lessor's accounting period ends on December 31. Reversing entries are not used by Mooney