On September $30,2023,$ Fair Equipment Co$.$ leased equipment to Castle Park Corporation. The lease agreement specified quarterly payments of $$12,000$ beginning September $30,2023,$ the beginning of the lease, and each quarter $($December $31,$ March $31,$ and June $30)$ through June $30,2027(4-$year lease term$).$ Castle Park had the option to purchase the equipment on September $29,2026,$ for $$68,000$ when it was expected to have a fair value of $$80,000.$ It is reasonably certain that Castle Park will exercise the purchase option. The estimated useful life of the equipment is $5$ years. The lease$$s implicit quarterly interest rate is $2\%($approximately $8\%$ annually$).$ Fair Equipment Co$.$ paid $$180,000($its fair value$)$ for the equipment in September $2023.$ This lease is classified as a finance lease. Why? One reason is sufficient. Record the appropriate journal entries that Fair Equipment Co$.($the lessor$)$ records on September $30,2023.$ Record the appropriate journal entries that Castle Park Corporation $($the lessee$)$ records on September $30,2023.$ Record the appropriate journal entries that Fair Equipment Co$.($the lessor$)$ records on December $31,2023.$ Record the appropriate journal entries that Castle Park Corporation $($the lessee$)$ records on December $31,2023.$