On July 1, 2019, suppose the City of Olympia, Washington leased a parking lot, agreeing to pay $500,000 at the start of the lease, and make five annual payments of $500,000 per year on June 30 of each subsequent year. The lease carries an interest rate of 4%. The countys fiscal year ends June 30, and straight-line depreciation is used, if appropriate. Required Prepare the entries to record the lease agreement and payments on July 1, 2019,