CALCULATOR Exercise 21-17 (Part Level Submission) On January 1, 2020, Larkspur Coteased a building to Crane Inc. The relevant information related to the seas fotos 1 The lease arrangement is for 10 years. The building is expected to have a residual value the end of tree of $3,400.000 (unguarantee 3 The leased building has a cost of $3,900,000 and was purchased for cash on January 1, 2020 3 The building is deprecated on a straight-line basis. Its estimated economies 50 years with salvage value 4 Lease payments are $250,000 per year and are made at the beginning of the year 5 Crane has an incremental borrowing rate of 6%, and the rate implot in the lease now to Crant 6 Both the besser and the lessee are on a calendar year basis Click here toxicw.factor table (For calculation purposes, use 5 decimal places as displayed in the factor takie prowited) (a) Prepare the journal entries that Larkspur should make in 2020. (Credit accountries are automatically widened when amunt interd. Do not intent mai mare presented in the problem.) Account Titles and Explanation De Date Credit To record of the big (To reconoce WATAW Prepare the journal entries that Larkspur should make in 2020. (Credit account titles are automatically indented when amount is entered. Do not indont a few presented in the problem.) Date Account Tides and Explanation Debit Credit (To record cost of the building) (To record remote pent To record the recognition of the revenue ah perih To recorderen pense) Click if you would like to show Work for this questioni Shower WUST ACCOUNTS