Frontier Inc. enters into an eight-year lease contract to lease equipment with a useful life of eight years. Annual lease payments are due with the first payment made immediately on January 1, the commencement of the lease. No residual value is expected or guaranteed for the underlying equipment. Lease payments consist of (a) fixed lease payment of $8,250, (b) insurance on the equipment of $250, and (c) maintenance on the equipment of $300. Frontier Inc. also paid legal fees of $213 related to the execution of the lease on January 1. Prepare Frontier's three journal entries at the commencement of the finance lease to record (1) lease asset and liability, (2) lease payment, and (3) maintenance cost, assuming an implicit interest rate of 6%, known by Frontier. - Note: Round your answers to the nearest whole dollar