This is Canadian Accounting

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Wildhorse Inc,, the lessee, entered into two leases on July 1, 2023, with Blossom Corp. Both companies are public corporations following IFRS. The leases are for a large auger and a jackhammer that will be used on a construction site, and both parties would prefer to keep the accounting for each as simple as possible. Other relevant information is as follows: 1. The term of the lease for the auger is six months with a monthly cost of $2,460 per month beginning July 1,2023 , with full payment of $14,760 due July 1, 2023. The lease for the jackhammer is for 18 months at $110 per month, with full payment of $1,980 due July 1,2023. 2. Blossom offered Wildhorse the opportunity to purchase the auger for $38,000 and the jackhammer for $4,300. Wildhorse chose to lease both instead. 3. The useful life of the auger and jackhammer are both three years with no residual value. 4. The stated interest rate for comparable leases is 6%. Prepare the journal entries for both parties on July 1 and December 31, 2023. (List all debit entries before credit entries, Credit account tities are automatically indented when the amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts. Record joumal entries in the order presented in the problem. Round answers to 0 decimal ploces, eg. 5,275.) Blossom Inc.: I eTextbook and Media