On January 1, 2020, a machine was purchased for $400,000 by Younger Leasing C0. The machine is expected to have a 10 -year life with no salvage value. It is to be depreciated on a straight-line basis. The machine was leased to Juniper Inc for 3 years on January 1. 2020 , with annual rent payments of $69,560 due at the beginning of each year, starting January 1,2020. The machine is expected to have a residual value at the end of the lease term of $260,000, though this amount is unguaranteed. Click here to view factor tables. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Prepare the 2020 journal entries for the lessor