Eastern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2021, Other information: Lease term Annual payments Life of asset Implicit interest rate PV, annuity due, 4 periods, 9% PV, ordinary annuity, 4 periods, 9% Hi-Tech's cost of the equipment 4 years $77,000 on January 1 each year 4 years 9% 3.5313 3.2397 $271,910 There is no expected residual value. Required: Prepare appropriate journal entries for Hi-Tech Leasing for 2021 and 2022. Assume a December 31 year-end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate and final answers to the nearest whole dollar amounts.) View transaction list 1 Record the lease. > 2 Record the cash receipt for the annual payments. 3 Record the entry for the interest revenue. Record the cash receipt for the annual payments. Credit 5 Record the entry for the interest revenue