BE$20\mathrm{.}10($LO $2)$ Assume that IBM leased equipment that was carried at a cost of $$120,000$ to Swander Company. The term of the lease is $6$ years beginning December $31,2024,$ with equal rental payments of $$30,044$ beginning December $31,2024.$ The fair value of the equipment at commencement of the lease is $$150,001.$ The equipment has a useful life of $6$ years with no salvage value. The lease has an implicit interest rate of $8\%,$ no bargain purchase option, and no transfer of title. Collectibility of lease payments for IBM is probable. Prepare IBM's December $31,2024,$ journal entries at commencement of the lease.

BE$20\mathrm{.}11(LO{2}_{?})$ Use the information for IBM from BE$20\mathrm{.}10.$ Assume the sales$-$type lease was recorded at a present value of $$150,001.$ Prepare IBM's December $31,2025,$ entry to record the lease transaction with Swander Company.