Can you guys help me figure this out? Can you try to keep it in the same format so I can understand?

Problem 21-16 Nash Dairy leases its milking equipment from Crane Finance Company under the following lease terms. 1. The lease term is 10 years, noncancelable, and requires equal rental payments of $31,100 due at the beginning of each year starting January 1, 2017. 2. The equipment has a fair value and cost at the inception of the lease (January 1, 2017) of $226,380, an estimated economic life of 10 years, and a residual value (which is guaranteed by Nash Dairy) of $20,900. 3. The lease contains no renewable options, and the equipment reverts to Crane Finance Company upon termination of the lease. 4. Nash Dairy's incremental borrowing rate is 9% per year. The implicit rate is also 9%. 5. Nash Dairy depreciates similar equipment that it owns on a straight-line basis. 6. Collectibility of the payments is reasonably predictable, and there are no important uncertainties surrounding the costs yet to be incurred by the lessor. Click here to view factor tables Prepare the journal entries for the lessee and lessor at January 1, 2017, and December 31, 2017 (the lessee's and lessor's year-end). Assume no reversing 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. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to decimal places, e.g. 5.250) Date Account Titles and Explanation Debit Credit Lessee: Jan. 1, 2017 (To record the lease.) To record lease payment.)