On January 1, 2014, Ryan Animation Ltd., which uses IFRS, sold a truck to Letourneau Finance Corp. for $65,000 and immediately leased it back. The truck was carried on Ryan Animation's books at $53,000, net of $26,000 of accumulated depreciation. The term of the lease is five years, and title transfers to Ryan Animation at lease end. The lease requires five equal rental payments of $17,147, with each payment made at year end. The appropriate rate of interest is 10%, and the truck has a useful life of five years with no salvage value. Prepare Ryan Animation's 2014 journal entries.