On January 1, 2018, Nath-Langstrom Services, Inc., a computersoftware training firm, leased several computers under a two-yearoperating lease agreement from ComputerWorld Leasing, whichroutinely finances equipment for other firms at an annual interestrate of 6%. The contract calls for four rent payments of $12,000each, payable semiannually on June 30 and December 31 each year.The computers were acquired by ComputerWorld at a cost of $94,000and were expected to have a useful life of Five years with noresidual value. Both firms record amortization and depreciationsemi-annually.

Prepare the appropriate enteries for both the lessee and thelessor from the beginning of the lease through the end of 2018

1. Jan 1 2018 Record the beginning of the lease forNath-Langstorm Services

2. June 30 2018 Record the lease payment and interest expensefor Nath-Langstrom Services

3. June 30 2018 Record the amortization expense forNath-Langstrom Services

4. December 31 2018 Record the lease payment and interestexpense for Nath-Langstrom Services

5. December 31 2018 Record the amortization expense forNath-Langstrom Services

6. June 30 2018 Record the lease revenue received byComputerWorld Leasing

7. June 30 2018 Record the Depreciation expense forComputerWorld Leasing

8. December 31 2018 Record the lease revenue received byComputerWorld Leasing

9. December 31 2018 Record the Depreciatino for ComputerWorldLeasing