please answer with correct and detailed calculations and explanations. make sure supporting statements are also provided for each step and calculation.

On January 1. 2025, Ivanhoe Animation sold a truck to Oriole Finance for $48,000 and immediately leased it back. The truck was carried on Ivanhoe's books at $40.000. The term of the lease is 5 years, there is no bargain purchase option, and title does not transfer to Ivanhoe at lease-end. The lease requires five equal rental payments of $11,395 at the end of each year (first payment on January 1. 2026). The appropriate rate of interest is 6%, the truck has a useful life of 5 years, with no expected residual value at the end of the lease term. Prepare Ivanhoe's 2025 journal entries. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to O decimal places, e.g. 5.275. Record journal entries in the order presented in the problem.) Click here to view factor tables. Credit Date Account Titles and Explanation Debit 1/1/25 Cash 1/1/25-/0.6 E Calculation purposes, use > decimal places as displayed in the factor cable provided and round phar answers to u decumar pieces, CED,75. Record journal entries in the order presented in the problem) Click here to view factor tables. Date Account Titles and Explanation Debit Credit 1/1/25 Cash 1/1/25 Assistance Used eTextbook and Media e Textbook