$!!!!$####Lease Accounting:

XYZ Corp. enters into a lease agreement for equipment with annual lease payments of $$50,000$ for $5$ years. The present value of the lease payments is $$200,000,$ and the implicit interest rate is $6\%.$ Determine the initial journal entry to record the lease transaction.

Issuance of Preferred Stock:

Company ABC issues $1,000$ shares of $$100$ par value preferred stock at a price of $$110$ per share. Calculate the initial journal entry to record the issuance of preferred stock.