Please so me the jounal entry

ch Getting Started W Accessn-Univers S Kieso, Intermediate Accounting, 16e INTERMEDIATE 1-2-3 (57 ctice Gradebook ORION Downloadable Textbook nment CALCULATOR BACK Exercise 21A-6 a-b (Part Level Submission) skysong Leasing Compan y signs a lease agreement on January 1, 2017, to lease electronic equipment to Sheridan Company. The term of the non-cancelabie lease is 2 years, and payments are required at the end of each year. The following information relates to this agreement: 1. Sheridan has the option to purchase the equipment for $23,500 upon termination of the lease. It is not reasonably certain that Sheridan will exerdise this option, 2. The equipment has a cost of $270,000 and fair value of $322,000 to Skysong Leasing. The useful economic life is 2 years, with a residual value of $23,50o. 3. Skysong Leasing desires to earn a return of S% on its investment. 4. Collectibility of the payments by Skysong Leasing is probable. Y Co) Prepare the journal entries on the books of Skysong Leasing to reflect the payments received under the lease and to recognize income for the years 2017 and 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. For calculation purposes, use 5 decimal places as displayed in the factor table provided and round fin enswers to o decimal places e-g. 5,275.) Date Account Titles and Explanation Debit Credit /1/17Lease Receivable 300685 of Goods Sold Saies Revenue Inventory 00685 22000 231/17Cash