On January $1,2025,$ a machine was purchased for $$880,000$ by Windsor Co$.$ The machine is expected to have an $8-$year life with no

salvage value. It is to be depreciated on a straight$-$line basis. The machine was leased to Wildhorse Inc. for $3$ years on January $1,2025,$

with annual rent payments of $$290,000$ due at the beginning of each year, starting January $1,2025.$ The machine is expected to have a

residual value at the end of the lease term of $$562,500,$ though this amount is unguaranteed.

Record the journal entries wildhorse would record for $2025$ on this lease, assuming its incremental borrowing rate is $9\%$ and the rate implicit in the lease is unkown. Please show the journal entries, I know the income before income taxes.