Question 10 of 10 < > View Policies -/2.5 !!! E Current Attempt In Progress Whispering, Inc. owns equipment that cost $114,000 and has a useful life of 10 years with no salvage value. On January 1, 2017, Whispering leases the equipment to Morgan Corporation for one year with one rental payment of $16,700 on January 1. Prepare Whispering's 2017 journal entries. (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.) Date Account Titles and Explanation January 1 (To record receipt of lease payment) December 31 (To record the recognition of the revenue each period) (To record depreciation expenses on the leased asset) Debit Credit