Sheridan Corporation, which uses ASPE, leased equipment it had specifically purchased at a cost of $191,800 for Coronado, the lessee. The term of the lease is 6 years, beginning January 1,2023 , with equal rental payments of $36,797 at the beginning of each year. Coronado pays all executory costs directly to third parties. The equipment's fair value at the lease's inception is $191,800. The equipment has a useful life of 7 years with no residual value. The lease has an implicit interest rate of 6%, no bargain purchase option, and no transfer of title. Collectibility is reasonably assured, with no additional costs to be incurred by Sheridan. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE. Using (1) tables, (2) a financial calculator, or (3) Excel functions, calculate the PV of the lease payments and prepare Sheridan's January 1,2023 journalentries at the inception of the lease. (List all debit entries before credit entries. Credit account titles are automaticalfy indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter of for the amounts. Round factor values to 5 decimal places, e.s. 1.25124 and final answers to 0 decimal places, e.g. 5,275) Date Account Titles and Explanation Debit Credit Jan, 1 (To record inception of lease.) Jan. 1 (To record first lease payment.)