On January 3, 2022, Tropical Inc. leased a specialized piece of diagnostic equipment to Bayview Medical Clinic. Details are as follows: $ 80,000 $100,000 8 years 10 years $20,000 $ 500 $16,881 $ 2.000 12% 10% Assume that Tropical has reasonable assurance that Bayview will make the remaining lease payments. All costs of operating the leased equipment are borne by Bayview. Assume that both companies have a December 31st year Cost to manufacture to Tropical Normal sales price Lease term Economic Life Residual value at the end of the lease term Residual value at end of useful life Lease payment (1st payment payable January 3, 2022) Purchase option (exercisable at end of year 8) Incremental borrowing rate of Bayview Rate implicit in the lease end. Prepare the journal entries for the Lessee and the Lessor for 2022 and 2023 below. Round to the nearest dollar