Eastern Edison Company leased equipment from Low-Tech Leasing on January 1, 2021. Low-Tech recently purchased the equipment at a cost of $304,403. Other information: Lease term Annual payments Life of asset Fair value of asset Implicit interest rate Incremental rate 5 years $73,000 on January 1 each year 5 years $304,403 10% 10% There is no expected residual value. Required: Prepare appropriate journal entries for Low-Tech Leasing for 2021. 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 answers to the nearest whole dollar amounts.) View transaction list 1 Record the entry at the inception of the lease. > 2 Record the entry for annual payment receipt. 3 Record the entry for interest revenue