Blossom Corporationagrees on Januacy 1, 2025, to lease equipment from Crine, lnc, for 3 yeors. The iease calls for annual fease payments of $10.000 at the beginning of each year. The lease does not transfer ownership, containa barganin purchase option, and is not a specialized asset. Inaddition, the economic life of the equipment is 10 years, and the present value of the fease payments is less than 9006 of the fair value of the equipment. Prepare Biossom' journal entries on January 1, 2025 (commencement of the operating lease), and on December 31, 2025, Assirine the outomatically Indented when the omount is entered. Do not indent manuolly. If no entry is required relect Wo Entoy for the occount wifirs and enter 0 for the amounts. For calculation purposes, use 5 decimal ploces as displond in the foctor hable provided andround fing onm dedimal ploces, e 5, 5,275. Recoed journalentries in the order presented in the problem. Cliochere to view tactor tablers. Date Account Titles and Explanation Debit Credit (To record lease liability) (To record leane poyment) TABLE 6.1 Futuro Value of 1 (Future Value of a Sinnle sint TABLE 6.1 Fulure Valuo of 1