Deal Leasing leased equipment to Hand Company on January 1, 2021. The lease payments were calculated to provide the lessor a 10 . return. Ten annual lease payments of $60,000 are due ot the beginning of each yeor beginning January 1, 202t. The present value of an annulty due of $1 at 10% for ten periods is 6.75902 . Required: Consider this to be a finance lease. 1. Prepare the journal entries to record the lease by Hand (lessee) at January 1,2021 . 2. Prepare the journal entries to record the lease by Hand (lessee) at December 31,2021 , the end of the first reporting period. (For alt requirements, If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Round your answers to the nearest whole dollar amounts.) Journal entry worksheet Rescord the iease. Wate tritnr weaits before cresta