Brief Exercise 21A-11 Assume that IBM leased equipment that was carried at a cost of $92,000 to Carla Vista Company. The term of the lease is 6 years December 31, 2016, with equal rental payments of $24,436 beginning December 31 2016 The fair value of the equipment at commencement of the lease is $122 000. The equipment has a useful life of 6 years with no salvage value. The lease has an implicit interest ate a 8% no again purchase option, and no transfer of title. Collectibility of lease payments for I8M is probable. Assume the sales-type lease was recorded at a present value of $122,000. 896, Prepare IBM's December 31, 2017, entry to record the lease transaction with Carla Vista Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually Round answers to 0 decimal places e.g. 5,275.) Account Titles and Explanation Debit Credit