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 $10,000 each, payable semiannually on june 30 and december 31 each year. the computers were acquired by computerworld at a cost of $90,000 and were expected to have a useful life of five years with no residual value. both firms record amortization and depreciation semi-annually.
required:
prepare the appropriate entries for both (a) the lessee and (b) the lessor from the begining of the lease through the end of 2018.

answer makes less frequent trips to the bank and firms make less frequent price changes;

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.