Larkspur Company leases an automobile with a fair value of $10,858 from John Motors, Inc., on the following terms. 1. Non-cancelable term of 50 months. 2. Rental of $220 per month (at the beginning of each month). (The present value at 0.5% per month is $9,760.) 3. Larkspur guarantees a residual value of $1,120 (the present value at 0.5% per month is $873 ). Larkspur expects the probable residual value to be $1,120 at the end of the lease terin. 4. Estimated economic life of the automobile is 60 months. 5. Larkspur's incremental borrowing rate is 6% a year ( 0.50% a month). John's implicit rate is unknown. Record the first month's amortization on Larkspur's books (assume straight-line). (List debit entry before credit entry, Credit account titles are automatically indented when amount is entered. Do not indent manually, If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, es. 5,275.)