Help Python Company leased equipment from Hope Leasing on January 1, 2021. Hope recently purchased the equipment at a cost of $237,283 Other information: Lease term Annual payments Life of asset Fair value of asset Implicit interest rate Incremental rate 3 years $86,000 on January 1 each year 3 years $237,283 94 94 There is no expected residual value. Required: Prepare appropriate journal entries for Python for 2021. Assume straight-line depreciation and a December 31 year-end, (if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amounts.) TE View transaction list View journal entry worksheet Date January 01, 2021 Right-of-use asset Lease payable No General Journal Debit Credit 1 237283 237.283 2 8,600 January 01, 2021 Lease payable Cash 8,600 3 December 31, 2021 Interest expense Interest payable 79,094 4 4 December 31, 2021 Depreciation expense 79,094 Accumulated depreciation