Company (the lessor) for 2017, assuming the equipment is carried at a cst of $200,0 BE21-18 (LO3) Rodgers Corpor calls for annual lease payments of $12,000 at the beginning of each year. The lease does not transfer ownership, contain a bargain purchase option, and is not a specialized asset. In addition, the economic life of the equipment is 10 years, and the present value of the lease payments is less than 90% of the fair value of the equipment. Prepare Rodgers journal entres on anuary 1, 2017 (commencement of the operating lease), and on December 31, 2017 Assume the implicit rate used by the lessor is 8%, and this ation agrees on January 1, 2017, to lease equipment from Packers, Inc. for 3 years. The lease is known to Rodgers IIan tho information fer Rodgers Corporation and Packers, Inc. from BE21-18. Assume that for Packers, Inc, nminment is $60,000. Prepare