Prepare all the necessary journal entries for Falls Company (the lessor) for 2020, assuming the equipment is carried at a cost of $192,000. Falls uses straight-line depreciation and the leased asset has zero residual value at the end of its useful life. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record the recognition of the revenue each period) (To record depreciation expense on the leased equipment) Prepare all the necessary journal entries for Falls Company (the lessor) for 2020, assuming the equipment is carried at a cost of $192,000. Falls uses straight-line depreciation and the leased asset has zero residual value at the end of its useful life. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record the recognition of the revenue each period) (To record depreciation expense on the leased equipment)