On 1/1/2014 lessor leases Equipment to lessee for 3 years. The equipment has an estimated remaining useful life of 5 years, a fair value of $250k, and is on lessor's books at $200k. Payments are due at the beginning of each year. Lessor expects the equipment to be returned on 12/31/2016 with a residual fair value of $30k, but this amount is unguaranteed. Lessor's interest rate is 12%, which is known by lessee. What is lessor's lease inception entry on 1/1/2014?