sunland corporation, which uses ASPE, enters into a $6$ year lease of equipment on september $1,2023,$ that requires $6$ annual payments of $$30,000$ each, beginning september $1,2023.$ In addition, sunland gaurantees the lessor a residual value of $$19,000$ at lease end. the equipment has a useful life of seven years.

Using tables, a financial calculator, or excel functions, calculate the amount of the capital lease and prepare Sunlands september $1,2023$ journal entry assuming an interest rate of $8\%.$