On January 1, 2017, Swifty Inc. sold computer equipment to Windsor Co. The sales price of the equipment was $532,000 and its carrying amount is $391,000. Record any journal entries necessary for Swifty from the sale of the computer equipment in 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answer to o decimal places, e.g. 5,275.) Debit Credit Date Account Titles and Explanation 1/1/17 Use the information from part (a). Assume that, on the same day the sale occurred, Swifty enters into an agreement to lease the equipment from Windsor for 10 years with annual lease payments of $65,591 at the end of each year, beginning on December 31, 2017. If Swifty has an incremental borrowing rate of 4% and the equipment has an economic useful life of 10 years, record any journal entries necessary for Swifty from the sale and leaseback of computer equipment in 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to o decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit 1/1/17 12/31/17 Use the information from part (b). Now, instead of 10 years, the lease term is only 3 years with annual lease payments of $65,591 at the beginning of each year. Record any journal entries necessary for Swifty from the sale and leaseback computer equipment in 2017. (Credit account titles are automatically indented when the amount is entered. L not indent manually. Round answers to O decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit 1/1/17 (To record sale of equipment) (To record the lease) (To record lease liability) 12/31/17