On January $1,2024,$ Ghosh Industries leased a high$-$performance conveyer to Karrler Company for a four$-$year period ending December $31,2027,$ at which time possession of the leased asset will revert back to Ghosh. $-$ The equipment cost Ghosh $\backslash (\backslash$$ $956,200\backslash )$ and has an expected useful life of five years. $-$ Ghosh expects the residual value at December $31,2027,$ will be $\backslash (\backslash$$ $300,200\backslash ).-$ Negotlations led to the lessee guaranteeing a $\backslash (\backslash$$ $340,200\backslash )$ residual value. $-$ Equal payments under the finance$/$sales$-$type lease are $\backslash (\backslash$$ $200,200\backslash )$ and are due on December $31$ of each year with the first payment being made on December $31,2024.-$ Karrler Is aware that Ghosh used a $\backslash (6\backslash \%\backslash )$ interest rate when calculating lease payments. Note: Use Excel, or a financlal calculator. Required: $1.$ Prepare the approprlate entries for Karrler on January $1,2024,$ to record the lease. $2.$ Prepare all appropriate entrles for Karrler on December $31,2024,$ related to the lease.

Required $1$

Required $2$

Prepare the appropriate entries for Karrier on January $1,2024,$ to record the lease.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Round your

answers to nearest whole dollar.

Prepare all appropriate entries for Karrier on December $31,2024,$ related to the lease.

Note: If no entry is required for a transaction$/$event$,$ select $"$No joumal entry required' in the first account field. Round your

answers to nearest whole dollar.

$***$Please help me find out what I did wrong in the included Screenshots$***$