Courage Enterprises leased equipment from Sixth Street Leasing on January 1, 2018. Courage purchased the equipment at a cost of $2,000,000. Courage elected the short-term lease option. Appropriate adjusting entries are made annually. Related Information: Lease term 1 year (4 quarterly periods) Quarterly lease payments $80,000 at Jan 1, 2018 and at Mar 31, June 30 and Sept 30 Economic life of asset 5 years Interest rate charged by the lessor 8% Required: Prepare appropriate journal entries for Courage from the beginning of the lease through December 31, 2018.