Indiana Jones Corporation enters into a 6-year lease of equipment on December 31, 2024, which requires 6 annual payments of $40,000 each, beginning December 31, 2024. In addition, Indiana Jones guarantees the lessor a residual value of $20,000 at the end of the lease. However, Indiana Jones believes it is probable that the expected residual value at the end of the lease term will be $10,000. The equipment has a useful life of 6 years. Assume that for Lost Ark Company, the lessor, collectibility of lease payments is probable and the carrying amount of the equipment is $180,000. Prepare Lost Ark's 2024 and 2025 journal entries, assuming the implicit rate of the lease is 6% and this is known to Indiana Jones