Green (GC) a publicly accountable entity is looking to expand their delivery fleet. Management has identified a need for 20 delivery vans at an estimated cost of $1,000,000. To finance the acquisition of the vans, GC has negotiated a six-year lease with Brown Inc. commencing December 31, 2019. Seeger has established an annual lease payment of $181,032 based on a rate of return in the lease of 6% (provided to the lessee) which is slightly higher than GC's incremental borrowing rate of 5%. The first payment is due upon signing the lease. The rate of return is based on GC guaranteeing a total residual value for the vans of $80,000 of which GC management believes is $30,000 more than the anticipated residual value for the delivery vans. REQUIRED 1. Prepare the journal entry(s) for Brown Inc. for the inception of the lease and the first year of the lease. (7.5 Marks) ii. Prepare the journal entry(s) for Green Corp. for the inception of the lease and the first year of the lease. (6.5 Marks) lii Describe the differences in the accounting for the lease from the perspective of the lessee if the entity had adopted ASPE