Jana Kingston Corporation enters into a lease on January 1, 2015, that does not transfer ownership or contain a bargain-purchase option. It covers 3 years of the equipment’s 8-year useful life, and the present value of the minimum lease payments is less than 80% of the fair value of the asset leased. Prepare Jana Kingston’s journal entry to record its January 1, 2015, annual lease payment of €35,000.