You are the new controller for Banana, Inc.. The company CFO has asked you to develop the appropriate worksheets and then journal entries to support several lease contracts as applied based on the new lease regulations. Your accounting group provided you the following information regarding the leases:

On January 2, 2018, Banana leased equipment, with a fair value of $675,000, under a capital lease calling for seven annual lease payments of $110,000 beginning January 2, 2018, and continuing each December 31st. Banana's incremental borrowing rate on the date of the lease was 8%. However, the lessor's implicit rate, which was known by Banana, was 6%. Provide the amortization table for the lease and the journal entries required for December 31, 2018 and December 31, 2020.

On January 2, 2019, Bananas subsidiary, Cream, entered into an equipment lease for four years, with semi-annual payments, for a machine that had an eight (8) year life and a fair value of $420,000. The payments were $29,500 each starting January 2, 2019, and continuing each June 30 and December 31. The lessors implicit interest rate was 8%. Provide the amortization table for the lease and the journal entries required at the inception of the lease and the lease payment on June 30, 2020. The lessee records amortization expense each time a lease payment is made.

Also, on January 2, 2019, another of Bananas subsidiaries, Apple, entered into an operating lease for four years, with semi-annual lease payments as follows: payments 1 and 2 = $22,500; payments 3 and 4 = $27,000; payments 5 and 6 = $30,000; and payments 7 and 8 = $32,000. Payments are to be made on the inception date and every June 30 and December 31 thereafter. The lessors interest rate is 6%. Provide the amortization table for the lease and the journal entries required at the inception of the lease and the lease payment on June 30, 2020. The lessee records amortization expense each time a lease payment is made.