many pictures only because last part of a multistep question. I only need the one in red, thank you :)

Tamarisk Company leases an automobile witha fair value of $14,108 from Joseph Motors, Inc, on the following terms. 1. Non cancelable term of 50 months. 2. Rental of $290 per month (at the beginning of each inonth). (The present value at 0.5% per month is $12,865 ) 3. Tamarisk zuarantees a residual value of $1.220 (the present value at 0.5% per month is $951 ). Tamarisk expects the probable residuar value to be $1,220 at the end of the lease term. 4. Estimated economic life of the automobile is 60 months. 5. Tamarisk's sincremental borrowing rate is 6% a year (0,50%6 a monthL- Joseph's implicit rate is inknown. Click here to view factor tables (For caiculation purposes, tase 5 decimal places as displayed in the factor toble provided) (a) What is the nature of this lease to Tamarisk? The nature of this lease is a/an lease. What is the present value of the lease payments to determine the lease liabiaty? (iound answer to 0 docimal ploces, es. 5.275.) Present value of the lease payments: 5 List of Accounts Attempts: unlimited Based on the original fact pattern. record the lease on Tamarisk s bools at the date of commencement (List debit entry befort crodlt entry. Credlt occount tioles are outomationthy indented when amount is entered, Do not indent manually If no entry is required, sciect "No Entry" for the acoount bltes and enter O for the amsunts) Record the first monthis lease payment (at commencement of the lease) - \{tht debit entry before credlt entry: Credit occount fitfles are outomatically indented when amount is entered, Do not indent manually, If no entry is requlred, select "No Entry" for the ocoount tities dnd enter 0 for the amounts Round answers to 0 decimal ploces, es. 5,275. Record the second month's lease payment. Wist oll debit entries before credit entries Credit occount sities are automatically indented when amount is entered, Do not indent manuolly. If no entry is repulred, select "No Entry" for the account titles ond enter Of for the amounts. Round answers to 0 decimal places, es. 5,275 . Pecord the first month's amortization cn Tamarisk's books (assume straight line]. Whst debit entry before credit entry Credit account titles are automatically inderted when wnount is entered. Do not indent manuilly. If no entry is required, select "No Entry" for the occount eitles and enter O for the anounts. Round answers to O decimal places, es. 5.275. Record the hrst month's amoetizatien on Tamarisk's books laswame straikh-linek Whe debit entry before credit entn, Crodit oceount tetes are outonveloally indented when arwount is entered. Do net indent manualy. M no entry is rapuined, select "No Entry" for the acoount bitles and enter D for the emounts. Roend anwwers to O decimsl ploces es. 5,275. (z) Suppose that instead of 51.220 . Tamarisk expects the reidual value to be oely $500 (the guaranteed amount is stil $1.2200. How does the calculation of the present valce of the kease payments dhange from part fol \{Round amwer fo 0 dechnal places, es. 5,275}