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Prepare the journal entry for American Food Services at the beginning of the lease on January 1, 2024. Note: Enter your answers in whole dollars and not in millions. If no entry is required for a transaction/event, select "No required" in the first account field. Journal entry worksheet Record the beginning of the lease for American Food Services. Note: Enter debits before credits. Prepare the appropriate entries related to the lease on December 31, 2024 and 2026. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld. Enter your answers whole dollars and not in millions. Round your intermediate and final answers to the nearest whole dollar. Journal entry worksheet Record the amortization for American Food Services. Note: Enter debits before credits. Required: 1. Prepare the journal entry for American Food Services at the beginning of the lease on January 1,2024. 2. Prepare an amortization schedule for the four-year term of the lease. 3. \& 4. Prepare the appropriate entries related to the lease on December 31.2024 and 2026. Complete this question by entering your answers in the tabs below. Prepare an amortization schedule for the four-year term of the lease. Note: Enter your answers in whole dollars and not in millions. Round your intermediate and final answers to the nearest whole. dollar. Prepare the appropriate entries related to the lease on December 31,2024 and 2026 . Note: If no entry is required for a transactionvevent, select "No journal entry required" in the first account fleld. Enter your answers in whole dollars and not in millions. Round your intermediate and final answers to the nearest whole dollar. Journal entry worksheet 4 Record the lease payment and interest expense for American Food Services. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare the appropriate entries related to the lease on December 31,2024 and 2026. Note: if no entry is required for a transaction/event, select "Wo journak entry tequired" in the first account fiekd. Enter your answers in whole dollars and not in militions. Round your intermediate and final answers to the nearest whole doliar. Journal entry worksheet Record the amortization for Aerican Food Services. Note: Enter dabls before credits. Complete this question by entering your answers in the tabs below. Prepare the appropriate entries related to the lease on December 31, 2024 and 2026. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account ficld. Enter your answer whole dollars and not in millions. Round your intermediate and finat answers to the nearest whole doliar. Journal entry worksheet Record the lease payment and interest expense for American Food Services. Note: Enter debits before credits Exercise 15-2 (Algo) Finance lease; calculate lease payments [LO15-2] American Food Services, Incorporated leased a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1,2024. The lease agreement for the $5.7 million (fair value and present value of the lease payments) machine specifled four equal payments at the end of each yeat. The useful life of the machine was expected to be four years with no residual value. Barton and Barton's implict interest rate was 9% Note: Use tables, Excel, or a financial calculator. EV of S1 PV of \$1. EVA of \$1. PVA of S1, EVAD of \$1 and PVAD of S1) Required: 1. Prepare the journal entry for American Food Services at the beginning of the lease on January 1,2024. 2. Prepare an amortization schedule for the four-year term of the lease. 3. \& 4. Prepare the appropriate entries related to the lease on December 31,2024 and 2026 Complete this question by entering your answers in the tabs below. Prepare the journal entry for American food Services at the beginning of the lease on January 1, 2024. Note: Enter your answers in whole dollars and not in mililons. If no entry is required for a transaction/event; select "No journal entry required in the first account field. Journal entry worksheet

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