Pronghorn Corporation agrees on January 1, 2020, to lease equipment from Packers Inc for 3 years. The for an allease payments of $13.000 at the beginning of each year. The lease does not trander ownership contain a bargain purchase option and is not a specialized asset. In addition, the economic life of the equipment is 10 years, and the present value of the lease payments is less than of the fair value of the Prepare Pronghorn journal entre o uary 1, 2020 commencement of the pertine and on December 31, 2020. Assume the implicit rate used by the lo a d this is known to Pronghorn. Credit account titles are automatically indented when the amount is entered. Do not indent manually. For calculation purposes, se decimal places as displayed in the factortable provided and round final anwers to decimal places.es 5,275. Record journal entries in the order presented in the problem.) Click here to view factor tables Date 17120 Account Titles and Explanation Reset To record lase lability) (la second lease payment) 12/31/20