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Blossom Steel Company, as lessee, signed a lease agreement for equipment for 5 years, beginning December 31, 2025. Annual rental payments of $42,000 are to be made at the beginning of each lease year (December 31 ). The interest rate used by the lessor in setting the payment schedule is 4%; Blossom's incremental borrowing rate is 6%. Blossom is unaware of the rate being used by the lessor. At the end of the lease, Blossom has the option to buy the equipment for $5,000, considerably below its estimated fair value at that time The equipment has an estimated useful fife of 7 years. with no salvage value. Blossom uses the straight-line method of depreciation on similar owned equipment Clickhere to view factor tablek. Prepare the journal entries, that Blossom should record on December 31, 2025. (Credit account tities are automatically indented When amount is entered. Do not indent manuolly if no entry is required, select "No Entry" for the account titles and enter 0 for the amounts Round present value foctor caloulations to 5 decimal ploces es. 1.25124 and the final answers to 0 decimal places, es. 58,971 . List all debit entries before credit entries. Prepare the journal entries, that Blossom should record on December 31, 2026. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. List oll debit entries before credit entries) Prepare the journal entries, that Blossom should record on December 31, 2026. (Credit account titles are automatically indented When amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. List all debit entries before credit entries) Prepare the journal entries, that Blossom should record on December 31, 2027. (Credit account titles are automatically indented when 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 answers to 0 decimal ploces eg. 58,971. Uist all debit entries before credit entries) What amounts would appear on Blossom's December 31, 2027, balance sheet relative to the lease arrangement? (Round answers to 0 decimal places, es. 58,971.) Blossom Steel Company, as lessee, signed a lease agreement for equipment for 5 years, beginning December 31, 2025. Annual rental payments of $42,000 are to be made at the beginning of each lease year (December 31 ). The interest rate used by the lessor in setting the payment schedule is 4%; Blossom's incremental borrowing rate is 6%. Blossom is unaware of the rate being used by the lessor. At the end of the lease, Blossom has the option to buy the equipment for $5,000, considerably below its estimated fair value at that time The equipment has an estimated useful fife of 7 years. with no salvage value. Blossom uses the straight-line method of depreciation on similar owned equipment Clickhere to view factor tablek. Prepare the journal entries, that Blossom should record on December 31, 2025. (Credit account tities are automatically indented When amount is entered. Do not indent manuolly if no entry is required, select "No Entry" for the account titles and enter 0 for the amounts Round present value foctor caloulations to 5 decimal ploces es. 1.25124 and the final answers to 0 decimal places, es. 58,971 . List all debit entries before credit entries. Prepare the journal entries, that Blossom should record on December 31, 2026. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. List oll debit entries before credit entries) Prepare the journal entries, that Blossom should record on December 31, 2026. (Credit account titles are automatically indented When amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. List all debit entries before credit entries) Prepare the journal entries, that Blossom should record on December 31, 2027. (Credit account titles are automatically indented when 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 answers to 0 decimal ploces eg. 58,971. Uist all debit entries before credit entries) What amounts would appear on Blossom's December 31, 2027, balance sheet relative to the lease arrangement? (Round answers to 0 decimal places, es. 58,971.)