'k * A1846 Sale and Leaseback: On 1 January 20X; Supergrocery Inc. sold its major distribution facility, with a 22year remaining life, to a real estate investment trust (RE-TI) for $9,030,000 cash1 its estimated fair value. The facility had an original cost of $10,400,000 and accumulated depreciation of $3,600,000 on the date of sale. Also on 1 January 20m, Supergrocery signed a 20year lease agreement widl the REIT, leasing the property back. Annual payments, beginning on 31 December 20x2, are $87501}. Supergrocery has an incremental borrowing rate of 9%. The company uses straightline depreciation and has a 31 December yearend. Supergrocery records a partyear's depreciation on buildings. based on the date of acquisition. There is an expected residual value at the end of the lease term of $50,[D0 but this amount is not guaranteed. Round to the nearest percentage. Req ui red: 1. Give the 203:2 enlries that Supergrocery would make to record the sale and the lease. 2. Repeat requirement 1 assuming that Supergrocery has the option to repurchase the equipment ten years after the start of the lease for $7,500,0CK}