Waterworld Company leased equipment from Costner Company. The lease term is 4 years and requires equal rental payments of \($43\),019 at the beginning of each year. The equipment has a fair value at the inception of the lease of \($150\),000, an estimated useful life of 4 years, and no residual value. Waterworld pays all executory costs directly to third parties. The appropriate interest rate is 10%. Prepare Waterworld’s January 1, 2015, journal entries at the inception of the lease.