On January 1, 2021, Winn Heat Transfer leased office space under a three-year operating lease agreement. The arrangement specified three annual lease payments of $60,000 each, beginning December 31, 2021, and at each December 31 through 2023. The lessor HVAC Leasing calculates lease payments based on an annual interest rate of 8% Winn also paid a $120,000 advance payment at the beginning of the lease 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. (FV of S1. PV of S1. EVA of $1. PVA of $1. FVAD of S1 and PVAD of 51 (Use appropriate factor(s) from the tables provided.) Required: Prepare the appropriate entries for Winn Heat Transfer from the beginning of the lease through the end of 2023. Winn's fiscal year is the calendar year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to nearest whole dollars.) Answer is not complete. No General Journal Credit 1 Date inuary 01, 2021 Right-of-use asset Lease payable Debit 274.626 274 626 OOO 2 January 01, 2021 Lease payable Cash 120,000 120.000 3 12370 December 31, 2021 Interest expense Lease payable Cash . 47,630 60,000 4 December 31, 2021 Amortization expense Right-of use asset 5 December 31, 2021 Depreciation expense 60.000 Accumulated depreciation-loasehold Improvement 60 000 6 December 31, 2022 Interest expense 107,630