On January 1, 2011, Winn Heat Transfer leased office space under a three-year operating lease agreement. The arrangement specified three annual rent payments of $80,000 each, beginning January 1, 2011, the inception of the lease, and at each January 1 through 2013. Winn also paid a $96,000 advance payment at the inception of the lease in addition to the first $80,000 rent payment. With permission of the owner, Winn made structural modifications to the building before occupying the space at a cost of $180,000. The useful life of the building and the structural modifications were estimated to be 30 years with no residual value. Required: Prepare the appropriate entries for Winn Heat Transfer from the inception of the lease through the end of 2011. Winn's fiscal year is the calendar year. Winn uses straight-line depreciation. (Omit the "$" sign in your response.) Date General Journal Debit Credit Jan. 1, 2011 Advance payment Annual rent payment Leasehold improvements Dec. 31, 2011 Annual rent Advance payment allocation Depreciation