1 10 points 04.09.39 Skipped Tartufo Corp. entered into a 5-year lease agreement with Gelato Inc. to lease equipment beginning on January 1, 20X5. The IBR is 9% while the rate implicit in the lease is 8%. Tartufo Corp. is aware of the rate implicit in the lease. Annual payments of $61,500 at the beginning of the year are required. The lease stipulates a $50,000 residual value guarantee but Tartufo Corp. expects a $10,000 payout will be required. Tartufo Corp. will return the equipment to Gelato Inc. at the end of the lease term. (PV of $1, PVA of $1, and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Provide journal entries pertaining to this lease for Tartufo Corp. for the 20X5 year. Tartufo Corp. uses straight-line depreciation for similar assets, with a half-year of deprecation recorded in the year of acquisition. (If no entry is required for a transaction/event. select "No journal entry required" in the first account field. Round intermediate calculations and final answers to the nearest whole dollar amount.) Book References Journal entry worksheet < 2 Record the lease at the beginning on January 1, 20x5. Note: Enter debits before credits Date Jan 01, 20x5 General Journal Debit Credit Record entry Clear entry View general journal >