Sheffield Inc. entered into a five-year lease of equipment from Matusek Limited on July 1, 2024. The equipment has an estimated economic life of eight years and fair value of $235,000. The present value of the lease payments amounts to $202,670. The lease does not have a bargain purchase option and ownership does not transfer to Sheffield at the end of the lease. (a) Record the transaction assuming Sheffield follows IFRS. (List debit entry before credit entry. Credit account titles are automatically indented when the 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.) Record the transaction assuming Sheffield follows ASPE. (List debit entry before credit entry. Credit account titles are automatically indented when the 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.)