n January 1, 2020, Baker Inc. enters into an operating lease of equipment for one year for $1,000 per month o anuary 1, 2020. The equipment cost $200,000 and has a useful life of 10 years. Assuming that Baker Inc. elect account for the lease under the short-term lease option, prepare Baker's monthly entry for 2020 assuming pay ents are made at the end of each month