Larkspur Corporation manufactures drones. On December 31, 2019, it leased to Althaus Company a drone that had cost $105,100 to manufacture. The lease agreement covers the 5-year useful life of the drone and requires 5 equal annual rentals of $37,300 payable each December 31, beginning December 31, 2019. An interest rate of 9% is implicit in the lease agreement. Collectibility of the rentals is probable. Prepare Larkspur's December 31, 2019, journal entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to decimal places eg. 5,275.) Click here to view factor tables. Debit Credit Date December 31, 2019 Account Titles and Explanation Lease Receivable Cost of Goods Sold Sales Revenue Inventory (To record the lease) December 31, 2019 Cash 37,300 Lease Receivable 37,300 (To record receipt of lease payment)