i only need the first journal entry thank you.

Sheridan Leasing Company signs an agreement on January 1, 2025, to lease equipment to Sunland Company. The following information relates to this agreement. 1. The term of the non-cancelable lease is 6 years with no renewal option. The equipment has an estimated economic life of 6 years. 2. The cost of the a5set to the lessor is $451,000. The fair value of the asset at Jancary 1,2025, is $451,000. 3. The asset will revert to the lessor at the end of the lease term, at which time the asset is expected to have a residual value of $24,225, none of which is guaranteed. 4. The agreement requires equal annual rental payments, beginning on January 1,2025. 5. Collectibility of the lease payments by Sheridan is probable. Click here to view factor tables Prepare alf of the journal entries for the lessor for 2025 and 2026 to record the lease agreement, the receipt of lease payments. and the recognition of revenue. Assume the lessor's annual accounting period ends on December 31, and it does not use reversing entries, (List all debit entries before credit entries, Credit account titles are automatically indented when amount Is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Assuming the lessor desires an 8% rate of return on its investment, calculate the amount of the annual rental payment required. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and the final answer to 0 decimal places eg. 5,275. Amount of the annual rental payment eTextbook and Media