On January 1, 2016, Fiona sold some land to another company and immediately leased it back again. The sale price was $13,420, and the leaseback requires $2,000 payments at the end of each of the next ten years. An interest rate of 8% was used. The cost of the land on Fiona's books was $10,000. The title to the land will be transferred back to Fiona at the end of the lease. Required: Prepare all 2016 journal entries on the books of Fiona