Chance Enterprises leased equipment from Third Bank Leasing on January $1.2021.$ Chance elected the short$-$term lease option.Related Information:Lease term$1$ year $(12$ monthly periods$)$Monthly lease payments$$15\mathrm{.}000$ at Jan. $1.2021.$ through Dec. $1.2021$Economic life of asset$5$ yearsInterest rate charged by the lessor $8\%$Required:Prepare appropriate entries for Chance from the beginning of the lease through April $1.2021.$