On January 1, 2021. QuickStream Communications leased telephone equipment from Diglum, Inc. Digium's cash 5 elling price for the equipment is \$1,607,604. The lease agreement specifies six arimal payments of $380,000 beginning December 3t, 2021, and at each December 31 thereafter through 2026 . The shi-year lease is equat to the estimated useful afe of the equipment. The contract specifies that lease paymenits for each year will increase by the higher of (a) the increwse in the Consumer Price index for the preceding year or (b) 39. The CPl at the beginning of thic lease is 110. Diglum routinely leases equipment to other fimm. The interest rate in these lease arrangernents is 113. (EV ofS1. PV. of S1. EVA of S1. PVA of S1. EVAD ofSi and PVAD of Si) (Use oppropriote foctor(s) from the tables provided.) Required: Prepare the appropriate journal entries for QuickStream lo record the Jease at its beginning date of January f, 2021 of no entry is required for to trensoction/event, select "No journol entry required" in the first aceount field. Round your answers to the nearest whole doller omount