Exercise 218-6 Flounder Company, a machinery dealer, leased a machine to Dexter Corporation on January 1, 2017. The lease is for an 8-year period and requires equal annual payments of $32,737 the beginning of each year. The first payment is received on January 1, 2017 Flounder had purchased the machine during 2016 for $146,000. Collectibility of lease payinents is easo preo cta le, and no important uncertainties surround the amount o costs yet to be incurred by riou der n under set the annual rental to ensure an ii% rate o retum nem eins ha an economic life of 10 years with no residual value and reverts to Flounder at the termination of the lease Compute the amount of the lease receivable. (Round present value factor calculations to S decimal places, e.g. 1.25124 and the final answer to O decimal places e.g 58,971.) The amount of the lease receivable NK TO TEXT Do not indent manually. If no entry is Prepare all necesary journal entries for Flounder for 2017. (Credit account titles are automatically indented when amount is entered required, select "No Entry" for the account titles and enter O for the amounts. Round answers to o decimmal reeho tn a Debit Credit Date Account Titles and Explanation