Carla Vista Corporation enters into a $5-$year lease of equipment on December $31,2024,$ which requires $5$ annual payments of $$37,600$ each, beginning December $31,2024.$ In addition, Carla Vista guarantees the lessor a residual value of $$18,900$ at the end of the lease. However, Carla Vista believes it is probable that the expected residual value at the end of the lease term will be $$9,450.$ The equipment has a useful life of $5$ years.

Prepare Carla Vistas' December $31,2024,$ journal entries, assuming the implicit rate of the lease is $9\%$ and this is known to Carla Vista. $($List all debit entries before credit 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. For calculation purposes, use $5$ decimal places as displayed in the factor table provided and round final answers to $0$ decimal places e$.$g$.5,275.)$

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