On January 1 of this year, Google Corporation leased a package of high-speed servers by signing a five-year lease. Lease payments of $300,000 are due at the end of each year. Google uses the straight-line method without residual value to amortize leased assets under finance leases. Assume that the appropriate annual discount rate is 9 percent. Prepare all journal entries under this lease arrangement for the first year for both cases: (1) this lease arrangement is a finance lease; (2) this lease arrangement is an operating lease.