Recording Sales Type Lease Journal Entries -- No Residual Value Franklin Co, leased its manufactured equipment to Parkering for a 4-year term. Franklin Coreported a book value of 5143,000 for the equipment in its inventory account The lease commenced on January 1, 2020, with the first annual payment of 548,100 due immediately, the equipment has a useful life of 4 years an estimated fair value of 5179,088, and no residual or salvage value. The implicit rate of the lease is 5% and collectibility of the lease payments from Parker is probable. Record Franklin's journal entries at the commencement of the sales type lease. . Note: Round your answers to the nearest whole dollar Note Ust multiple debits or credits (when applicable) in alphabetical order Account Name Dr. Cr. Jan 1, 2020 . Date . . Toden condimenti 1.2020 . Te records