Edwin Industries leased exercise equipment to Gold's Gyms on January $1,2024.$ The lease does not meet the criteria for classification as a finance lease. The lease agreement specifies four payments of $$80,000$beginning on January $1,2024.$ The present value of those payments at a discount rate of $6\%$ is $$293,841.$Which of the following is true regarding the entries made on January $1,2024?$ Gold's Gyms records a debit to lease expense for $$293,841.$ Gold's Gyms record a credit to lease payable of $$80,000.$ Edwin Industries records a credit to exercise equipment for $$293,841.$ Edwin Industries record a debit to cash for $$80,000.$