On December 31, 2024, Teal Mountain Corporation signed a 5-year, non-cancelable lease for a machine. The terms of the lease called for Teal Mountain to make annual payments of $8,200 at the beginning of each year, starting December 31, 2024. The machine has an estimated useful life of 6 years and a $5,500 unguaranteed residual value. The machine reverts back to the lessor at the end of the lease term. Teal Mountain uses the straight-line method of depreciation for all of its plant assets. Teal Mountain's incremental borrowing rate is 11%, and the lessor's implicit rate is unknown. Prepare all necessary journal entries for Teal Mountain for this lease through December 31, 2025. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to O decimal places eg. 5,275) Date Account Titles and Explanation (To record the lease) (To record first lease payment) (To record amortization of the right-of-use asset) Debit Credit (To record lease payment)