On January $1,2024,$ Winn Heat Transfer leased office space under a three$-$year operating lease agreement. The arrangement

specified three annual lease payments of $$60,000$ each, beginning December $31,2024,$ and on each December $31$ through $2026.$ The

lessor, HVAC Leasing, calculates lease payments based on an annual Interest rate of $5\%.$ Winn also pald a $$276,000$ advance payment

at the beginning of the lease. With permission of the owner, Winn made structural modifications to the bullding before occupylng the

space at a cost of $$336,000.$ The useful life of the bullding and the structural modifications were estimated to be $30$ years with no

residual value.

Note: Use tables, Excel, or a financlal calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Required:

Prepare the approprlate entrles for Winn Heat Transfer from the beginning of the lease through the end of $2026.$ Winn's fiscal year Is

the calendar year.

Note: If no entry is requlred for a transaction$/$event$,$ select $"$No journal entry required" In the flrst account fleld. Round your

answers to the nearest whole dollar.