Carla Vista Co. leased machinery from Young. Inc on January 1. 2020. The lease term was for 8 ycars, withequal annual rental payments of $5,700 at the beginning of each year. In addition, the lease provides an option to purchase the machinery at the end of the lease term for $2,000, which Carla Vista is reasonably certain it will evercise ac it believes the fair value of the machinery will be at least $4,000. The machinery has a useful life of 10 years and a fair value of $39,000. The implicit rate of the fease is not known to Carla Vista. Carla Vista's incremental borrowing rate is 6% Prepare Carla Vista's 2020 journal entries. (Credit occount titles are automotically indented when the amount is entered, Do not indent manually. For calculation purposes, use 5 decimal ploces as diplayed in the factor table provided and round final answers to 0 decimal ploces eg. 5.275. Record joumal entries in the order presented in the problem.) Click here to viewfactor tables