Brief Exercise 21A-6 Splish Brothers Company leased equipment from Costner Company, beginning on December 31, 2016. The lease term is 4 years and requires equal rental payments of $91,318 at the begir each year of the lease, starting on the commencement date (December 31, 2016). The equipment has a fair value at the commencement date of the lease of $340,000, an estimated useful 4 years, and no estimated residual value. The appropriate interest rate is 5%. Click here to view the factor table. Prepare Splish Brothers's 2016 and 2017 journal entries, assuming Splish Brothers depreciates similar equipment it owns on a straight-line basis. (Credit account titles are automaticall indented when the amount is entered. Do not indent manually. For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final an to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanationn Debit Credit 12/31/16 To record lease liability) 12/31/16 To record lease payment) 12/31/17 (To record interest expense)