points The following information applies to the next 2 questions On January 1, 2022, XYZ Leesee leased equipment from Stanley Inc. Leisor, signing an Operating Lease with the following terms Both the cost and the fair value of the asset for Stanley Ine Lessor is $360,000 Lease specifies 4 annual payments of $60,273 beginning January 1, 2022, and on each January 1 thereafter through 2025. The 4-year term ends on December 31, 2025 The asset's expected residuat value at the end of the lease term (4 years) in $175,000, unguaranteed by the Lessee The expected useful life of the equipment is 7 years, and there is no expected residual value at the end of its useful life There is no purchase option, and the equipment reverts back to the Lessor at the end of the 4-year period The implicit rate on the lease is 6% and XYZ Lessee is aware of that rate Assume Straight Line Depreciation is used on the Right of Use Asset Present Value factors are the following PV of $1 014100% 76% 70209 66506 PV of Annuity Due 3.67301 5.91732 A December 31, 2022 end of the first year. XYZ Lessee's journal entry would include a O a Debit to Lease Liability for $9.667 O b. Credit to Right-Of-Use Asset for 60,273 Oc. Credit to Right-Of-Use Asset for $50,606 Od. Debit to Interest Expense for $9,667