Assume that IBM leased equipment that was carried at a cost of $148,000 to lvanhoe Company. The term of the fease 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 salvagevalue. The lease has an implicit interest rate of 9%, no bargain purchase option, and no transfer of title. Collectibilify of lease payments for ibM is probable. Prepare IBM's December 31, 2024, joumal entries at commencement of the lease. flist all debit entries before credit entries. Credit occount titles are automatically indented when amount is entered. Do not indent manualiy. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. For calculation purposes, use 5 decimal places as displajed in the factor foble provided and round final answers to 0 decimal placeses. 5,275