On January 1, 2025, Cullumber Animation sold a truck to Blossom Finance for $38,000 and immediately leased it back. The truck was carried on Cullumber's books at $31,000. The term of the lease is 3 years, there is no bargain purchase option, and title does not transfer to Cullumber at lease end. The lease requires three equal rental payments of $8,810 at the end of each year (first payment on January 1, 2026). The appropriate rate of interest is 4%, the truck has a useful life of 5 years, and the residual value at the end of the lease term is expected to be $14,000, none of which is guaranteed. Prepare Cullumber's 2025 journal entries. (List all debit entries before credit entries. Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to O decimal places, eg. 5.265 Record journal entries in the order presented in the problem) Click here to view factor tables Question 4 Accounting Dropdown Question 5 Accounting Dropdown Question 6 Accounting Dropdow Question 7 Accounting Dropdown Date Account Titles and Explanation 1/1/25 Cash Trucks Gain on Disposal of Plant Assets (To record sale of truck) 1/1/25 Right of Use Asset 12/31/25 Lease Liability (To record lease liability) Lease Expense Lease Liability Right-of-Use Asset Debit Credit 36000 31000 7000 Question 8 Accounting Dropdown Question 9 Accounting Dropdown Viewing Question 1 Accounting Dropdown Question 11 Question 12 Accounting Multurep Question 13 Accounting Mumstep Question 14 Accounting M