Carla Vista Corp. agreed to lease property from Sheridan Corp. effective January 1,2023 , for an annual payment of $25,218, beginning January 1,2023 . The property is made up of land with a fair value of $104,000 and a two-storey office building with a fair value of $166,000 and a useful life of 25 years with no residual value. The implicit interest rate is 9.0%, the lease term is 25 years, and title to the property is transferred to Carla Vista at the end of the lease term. Prepare the required entries made by Carla Vista on January 1, 2023, and at its year end of December 31, 2023. Both Carla Vista and Sheridan use ASPE. (List all debit entries before credit entries. Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem. Round answers to 0 decimal places, e.g. 5,275.)