Hello, I would appreciate if someone helps me to solve thefollowing question. Thank you

On January 1, 2015, Smith Company (lessee) enters into a 12month lease agreement with Wesson Corporation (lessor) to rent anoffice building for $1,000 a month. The useful life of the buildingis 30 years and has a FMV of $500,000.

What is the journal entry that the lessee will make on January1, 2015??

What journal entry will the lessor make on January 1,2015??

On January 1, 2015, Smith Company (lessee) enters into a leaseagreement with Wesson Corporation (lessor) to rent an officebuilding for $1,000 a month. At the end of the 20 year lease, SmithCompany will own the building.

What is the journal entry that the lessee will make on January1, 2015??

     What journal entry will the lessor makeon January 1, 2015?

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