Cheyenne Corporation owned a manufacturing facility. Cheyenne had purchased the building for $9,600,000, and had recorded $3,120,000 depreciation on the facility. On January 1, 2020, Cheyenne sold the building to HMD Ltd. for $7,395,000, and then immediately signed a 15-year agreement to lease back the building for annual payments of $799,958, due at the start of each year. Title to the building would return to Cheyenne at the conclusion of the lease. HMD's implied interest rate, which was known to Cheyenne, was 8%. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE. Prepare the journal entries to be recorded by Cheyenne for the 2020 fiscal year (assuming a December 31 year-end, and that Cheyenne follows ASPE). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 5,275. Round factor values to 5 decimal places, e.g. 1.25124. If no entry is required, select "No entry" for the account titles and enter O for the amounts.)