Please help me with the COGS and Sales Revenue Calculation for the JE

Blossom Incorporated leases a piece of machinery to Ayayai Company on January 1, 2020, under the following terms. 1. The lease is to be for 4 years with rental payments of $14,388 to be made at the beginning of each year. 2. The machinery' has a fair value of $77,298, a book value of $57,680, and an economic life of 10 years. 3. At the end of the lease term, both parties expect the machinery to have a residual value of $28,840. To protect against a large loss, Blossom requests Ayayai to guarantee $20,380 of the residual value, which Ayayai agrees to do. 4. The lease does not transfer ownership at the end of the lease term, does not have any bargain purchase options, and the asset is not of a specialized nature. 5. The implicit rate is 5%, which is known by Ayayai. 6. Collectibility of the payments is probable. Click here to view factor tables. Your answer is correct. Evaluate the criteria for classification of the lease, and describe the nature of the lease. For the lessee, it is a , and for the lessor, it is a Prepare the journal entries for Blossom for the year 2020. (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. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 5,275.)