Python Company leased equipment from Hope Leasing on January 1. 2021. Hope recently purchased the equipment at a cost of $327.720. Other information: Lease term 5 years Annual payments $76,090 on January 1 each year Life of asset 5 years Fair value of asset $327, 720 Implicit interest rate 8% Incremental rate 8% 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 X 1 Record the entry to lease the equipment from Hope Leasing on January 01, 2021. 2 Record the cash paid for annual payment. ry 01, Record the entry for interest expense. 4 Record the entry for amortization expense. Credit Note : @ = journal entry has been entered Record entry Clear entry View general journal