h9w do I do this?

Your answer is partially correct Laura Leasing Company signs an agreement on January 1, 2020, to lease equipment to Crane Company. The following information relates to this agreement. The term of the non-cancelable lease is 3 years with no renewal option. The equipment has an estimated economic life of 5 years 2 The fair value of the asset at January 1, 2020.is $76,000. 3. The asset will nevert to the lessor at the end of the lease term at which time the asset is expected to have a residual value of $7.000 none of which is guaranteed. The agreement requires equal annual rental payments of $24,177.00 to the lessor beginning on January 1, 2020. 5. The lessee's incrementa borrowing rate is 594. The lessor's implicit rate is 499 and is unknown to the lessee. 6. Crane uses the straight-line depreciation method for all equipment. Click here to view factor tables Prepare all of the journal entries for the lessee for 2020 to record the ease agreement, the lease payments, and al expenses related to this lease. Assume the lessee's annua accounting period ends on December 31. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round answers to 2 decimal places eg 5.265.25. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit 1120 Leased Egulpment 69777 Lease LIKE 6970 (To record the lease) 12732/20 Interest expense 24177 Lease Llabils 241 (To record lease liability TUOTE 2013120 Depreda: Espende 1832 Acoumded Deprecen hautnere