Blossom Corporation manufactures drones. On December $31,2024,$ it leased to Wildhorse Company a drone that had cost $$102,700$ to manufacture. The lease agreement covers the $5-$year useful life of the drone and requires $5$ equal annual rentals of $$41,900$ payable each December $31,$ beginning December $31,2024.$ An interest rate of $11\%$ is implicit in the lease agreement. Collectibility of the rentals is probable.

Prepare Blossom's December $31,2024,$ journal entries. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. 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 displayed in the factor table provided and round final answers to $0$ decimal places e$.$g$.5,275.)$