Exercise 2: On January 2, 2018, Gold Star Leasing Company leases equipment to Brick Co with 5 equal annual payments of $160,000 each, payable beginning January 2, 2018. Brick Co. agrees to guarantee the $100,000 residual value of the asset at the end of the lease term. Brick's incremental borrowing rate is 10%, however it knows that Gold Star's implicit interest rate is 8%. What journal entry would Brick Co. make at January 2, 2018 to record the lease? PV Annuity Due PV Ordinary Annuity PV Single Sum 8%, 5 periods 68508 3.99271 4.31213 62092 10%, 5 periods 3.79079 4.16986 Prepare the journal entry Brick Co would make on January 2, 2018 to record the lease