On january 1, 2018, nath-langstrom services, inc., a computer software training firm, leased several computers under a two-year operating lease agreement from computerworld leasing, which routinely finances equipment for other firms at an annual interest rate of 4%. the contract calls for four rent payments of $16,500 each, payable semiannually on june 30 and december 31 each year. the computers were acquired by computerworld at a cost of $103,000 and were expected to have a useful life of five years with no residual value. both firms record amortization and depreciation semi-annually. (fv of $1, pv of $1, fva of $1, pva of $1, fvad of $1 and pvad of $1) (use appropriate factor(s) from the tables provided.) required: prepare the appropriate entries for both the lessee and the lessor from the beginning of the lease through the end of 2018. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. round your intermediate calculations to the nearest whole dollar amount.)
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On january 1, 2018, nath-langstrom services, inc., a computer software training firm, leased several...
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