Python Company leased equipment from Hope Leasing on January 1, 2021. Hope recently purchased the equipment at a cost of $366,951 Other information: Lease term Annual payments Life of asset Fair value of asset Implicit interest rate Incremental rate 5 years $88,000 on January 1 each year 5 years $366,951 10% 10x There is no expected residual value Required: Prepare appropriate journal entries for Python for 2021. Assume straight-line depreciation and a December 31 year-end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amounts.) View transaction list View journal entry worksheet No General Journal Debit Credit Date January 01, 2021 Right-of-use asset 1