Metlock Warehouse, Inc. leased equipment from Southern Finance. The lease term is 5 years and requires equal rental payments of $71,667 at the beginning of each year. The equipment has a fair value at the inception of the lease of $320,000, an estimated useful life of 5 years, and no salvage value. Metlock Warehouse pays all executory costs directly to third parties. The appropriate interest rate is 6%. Prepare Metlock Warehouses January 1, 2017, journal entries at the inception of the lease. (Cr