Please explain the adjusted entries for the question below.

On 1/1/14, ABC Corporation signed a 5-year noncancelable lease for a delivery vehicle.The terms of the lease called for ABC to Corporation to make annual payments of $10,503 at the beginning of each year, starting January 1, 2014.The delivery vehicle has an estimated useful life of 6 years and a $7,000 unguaranteed residual value.The delivery vehicle reverts back to the lessor at the end of the lease term.ABC Corporation amortizes the delivery vehicle.ABC Corporation's incremental borrowing rate is 10%, and the Lessor's implicit rate is unknown.No entries have yet been made concerning this lease arrangement.After determining the type of lease arrangement (financing or operating), prepare the necessary multiple-part journal entry for 2014 for ABC Corporation.(Hints:You will need to compute the present value of the minimum lease payments and 4 separate sub-entries for this lease transaction.Also, for Statement of Cash Flow purposes, the principal portion of lease payments are correctly categorized as a financing activity.)

This is my answer, please tell explain what is wrong.

Leased Vehicle 43,796

Lease Liability 43,796

To record the lease liability

Lease Liability 10,503

Cash 10,503

To record the lease payment

Interest Expense 3,329

Interest Payable 3,329

To record the interest expense

Depreciation Expense 8,759

Accumulated Depreciation 8,759

To record the depreciation expense