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Recording Entries for Finance Lease with Unguaranteed Residuat Value-Lessee Leasie Required a. Determine the classificabon of the lease for Lessee Corporation. C. Pronde journal entries relabing to the lesse for Leisece Corporation on Junuary 1 and December 31 of vear 1 and vear 2 . - Note: found your answers to the nearest whale dollar. c. Provide journal entries relating to the lease for Lessee Corporation on January 1 and December 31 of Year 1 and Year 2 . - Note: Round your answers to the nearest whole dollar. b. Prepare a schedule of the lease liability for the first two years of the lease term. - Note: Round each amount in the schedule to the nearest whole dollar. Use the rounded amount for later calculations in the schedule. Cash Initial Direct Cost Inventory Prepaid Maintenance Expense h 17 Equipment Accumulated Depreciation Lease Receivable , Year 1 Right-of-Use Asset Accrued Legal Expense Deferred Lease Revenue Deposit Liability Lease Incentive Payable Lease Liability Sales Revenue Interest Revenue Lease Revenue Cost of Goods Sold Amortization Expense Depreciation Expense Interest Expense Lease Expense Loss on Lease Selling Expense Lease Expense To record interest Recording Entries for Finance Lease with Unguaranteed Residuat Value-Lessee Leasie Required a. Determine the classificabon of the lease for Lessee Corporation. C. Pronde journal entries relabing to the lesse for Leisece Corporation on Junuary 1 and December 31 of vear 1 and vear 2 . - Note: found your answers to the nearest whale dollar. c. Provide journal entries relating to the lease for Lessee Corporation on January 1 and December 31 of Year 1 and Year 2 . - Note: Round your answers to the nearest whole dollar. b. Prepare a schedule of the lease liability for the first two years of the lease term. - Note: Round each amount in the schedule to the nearest whole dollar. Use the rounded amount for later calculations in the schedule. Cash Initial Direct Cost Inventory Prepaid Maintenance Expense h 17 Equipment Accumulated Depreciation Lease Receivable , Year 1 Right-of-Use Asset Accrued Legal Expense Deferred Lease Revenue Deposit Liability Lease Incentive Payable Lease Liability Sales Revenue Interest Revenue Lease Revenue Cost of Goods Sold Amortization Expense Depreciation Expense Interest Expense Lease Expense Loss on Lease Selling Expense Lease Expense To record interest

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