Could someone else try to solve this question? I had someone try but they didn't do it correctly. Thank you

Your answer is partially correct. Try again. Buffalo Corporation enters into a 7-year lease of equipment on December 31, 2016, which requires 7 annual payments of $37,300 each, beginning December 31, 2016. In addition, Buffalo guarantees the lessor a residual value of $19,400 at the end of the lease. However, Buffalo believes it is probable that the expected residual value at the end of the lease term will be $9,400. The equipment has a useful life of 7 years. Prepare Buffalos' December 31, 2016, journal entries assuming the implicit rate of the lease is 9% and this is known to Buffalo. (Credit account titles are automatically indented when amount is entered. Do not indent manually. For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to 0 decimal places e.g. 5,275.) 10 1 3 4 5 7 8 9 2 23 Click here to view the factor table. Date Account Titles and Explanation Debit Credit December 31, 2016 Right-of-Use Asset 187,729 Lease Liability 198,341 Cudy. (To record the lease liability) December 31, 2016 Lease Liability 37,300 Cash 37,300 (To record lease payment) click if you would like to Show Work for this question: Open Show Work CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX ES Brief Exercise 21A-9 x Your answer is incorrect. Try again. Larkspur Inc. wishes to lease machinery to Thiensville Company. Thiensville wants the machinery for 4 years, although it has a useful life of 10 years. The machinery ha a fair value at the commencement of the lease of $58,000, and Larkspur expects the machinery to have a residual value at the end of the lease term of $28,000. However, Thiensville does not guarantee any part of the residual value. Thiensville does expect that the residual value will be $56,000 instead of $28,000. What would be the amount of the annual rental payments Larkspur demands of Thiensville, assuming each payment will be made at the end of each year and Larkspur wishes to earn a rate of return on the lease of 6%? (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to 0 decimal places, e.g. 5,275.) Click here to view the factor table. Amount of equal annual lease payments 6858 Click if you would like to show Work for this question: Open Show Work dy Question Attempts: 1 of 15 used