$6.$ ABC is a pharmaceutical company $,$ that needs to adopt IFRS $16$ Leases in the reporting period ending $31$ December $2020.$ ABC entered into the contract on $1$st of January $2020$ for $8$ years, annual rental payments are $$80000$ at the beginning of the lease term, the machine will be returned back to the lessor. The lessor having longlasting partnership relations with ABC provided lease incentives of $$7000.$ The economic life of a machine is $5$ years. ABC incurred lease related direct costs of $$30000.$ Provide accounting entries for $31$ December $2020$ and $31$ December $2021.$