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Ivanhoe, Inc owns equipment that cost $142,000 and has a useful life of 10 years with no salvage value. On January 1, 2017, Ivanhoe leases

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Ivanhoe, Inc owns equipment that cost $142,000 and has a useful life of 10 years with no salvage value. On January 1, 2017, Ivanhoe leases the equipment to Morgan Corporation for one year with one rental payment of $15,000 on January 1 Prepare Ivanhoe's 2017 journal entries. (Credit account tieles are outomatically indented when amount is entered. Do not indent manually If no entry is requlred, select "No Entry" for the occount titles and enter Ofor the amounts)

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