On December 31, 2019, Kingbird Corporation signed a 5-year, non-cancelable lease for a machine. The terms of the lease called for Kingbird to make annual payments of $8,508 at the beginning of each year of the lease, starting December 31, 2019. The machine has an estimated useful life of 6 years and a \$4,700 unguaranteed line method of depreciation for all of its plant assets. Kingbird's incremental borrowing rate is 2%, and the lessor's implicit rate is unknown. Click here to view factor tables. Prepare all necessary journal entries for Kingbird for this lease through December 31, 2020. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is enten Date On December 31, 2019, Kingbird Corporation signed a 5-year, non-cancelable lease for a machine. The terms of the lease called for Kingbird to make annual payments of $8,508 at the beginning of each year of the lease, starting December 31, 2019. The machine has an estimated useful life of 6 years and a \$4,700 unguaranteed line method of depreciation for all of its plant assets. Kingbird's incremental borrowing rate is 2%, and the lessor's implicit rate is unknown. Click here to view factor tables. Prepare all necessary journal entries for Kingbird for this lease through December 31, 2020. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is enten Date