nt CALCULATOR FULL SCREEN PRINTER VERSION 4BACK NEXT Brief Exercise 21A-29 On January 1, 2017, Bramble Animation sold a truck to Peete Finance for $50,000 and immediately leased it back. The truck was carried on Bramble's books at $43,000. The term of the lease is 3 years, there is no bargain purchase option, and ttle does not transfer to Bramble at lease-end. The lease requires three equal rental payments of $13,000 at the end of each year (frst payment on January 1, 2018). The appropriate rate of interest is 5 %, the truck has a useful lfe of 5 years, and the residual value at the end of the lease terrm is expected to be $14,000, none of which is guaranteed. Prepare Bramble's 2017 journal entries. (Credit account titles are automatically indented when the 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. 5,265) Click here to view the factor table. Date Account Titles and Explanation Debit: Credit: 1/1/17 (To record sale of truck) 1/1/17 (To record lease liability) 12/31/17