Sandhill Company, a machinery dealer, leased a machine to Wildhorse Corporation on January 1,2025 . The lease is for an 8 -year period and requires equal annual payments of $30,232 at the beginning of each year. The first payment is received on January 1 2025. Sandhill had purchased the machine during 2024 for $105,000. Collectibility of lease payments by Sandhill is probable. Sandhill set the annual rental to ensure a 6% rate of return. The machine has an economic life of 10 years with no residual value and reverts to Sandhill at the termination of the lease. (a) Compute the amount of the lease receivable. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to 0 decimal places e.g. 5,275.) Amount of the lease receivable $ (b) Prepare all necessary journal entries for Sandhill for 2025. (List all debit entries before credit 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 0 for the amounts. Round answers to 0 decimal places e.g. 5,275. Record journal entries in the order presented in the problem.) (c) Suppose the collectibility of the lease payments was not probable for Sandhill. Prepare the necessary journal entry for the company in 2025. (List debit entry before credit entry. 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 0 for the amounts.) (d) Your answer is incorrect. Suppose at the end of the lease term, Sandhill receives the asset and determines that it actually has a fair value of $1,190 instead of the anticipated residual value of $0. Record the entry to recognize the receipt of the asset for Sandhill at the end of the lease term. (List debit entry before credit entry. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)