Assume that 18M leased equipment that was carried at a cost of $148,000 to Ivanhoe Company. The term of the lease is 5 years beginning December 31,2024, with equal rental payments of $30,400 beginning December 31 , 2024, The fair value of the equipment at commencement of the lease is $128,887. The equipment has a useful life of 5 years with no salvage value. The Jease has an implicit interest rate of 9%, no bargain purchase option, and no transfer of title. Collectibility of lease payments for IBM is probable. Prepare IBM's December 31, 2024, journal entries at comimencement of the lease. (List all debit entries before credit entries. Credit account titles are automotically indented when amount is entered. Do not indent manually. If no entry is required, seloct "No Entry" for the account titles and enter o for the amounts. For colculation purposes, use 5 decimal ploces as displayed in the factor table provided and round final answers to 0 decimal places es. 5.275.) Date Account Titles and Explanation Debit Credit December 31 , 2024 (To record the lease) December 31, 2024 (To incord recelpt of leage payment)