Sunland Leasing Company signs an agreement on January 1.2025, to lease equipment to Carla Vista Company, The following information relates to this agreement 1. The term of the non-cancelable lease is 6 years with no renewal option. The equipment has an estimated economic life of 6 years. 2. The cost of the asset to the lessor is $251,000. The fair value of the asset at January 1,2025, is $251,000. 3. The asset will revert to the lessor at the end of the lease term, at which time the asset is expected to have a residual value of $25,490, none of which is guaranteed. 4. The agreement requires equal annual rental payments, beginning on January 1, 2025 . 5. Collectibility of the lease payments by 5 unland is probable. Clickhere to view factor tables. Assuming the lessor desires an 8% rate of return on its investment, calculate the amount of the annual rental payment required. (For calculation purposes, use 5 decimal places as displaved in the factor table provided and the final answer to 0 decimal places es. 2,275 ) Amount of the annual rental payment Prepare an amortizationschedule that is suitable for the lessor for the lease term. (Round answers to 0 decimel places eg. 5,275 .) Prepare all of the journal entries for the lessor for 2025 and 2026 to record the lease agreement, the receipt of lease payments: and the recosnition of revenue. Assume the lessor's annual accounting period ends on December 31 , and it does not use reversing entries. (List all debit entries before credit entries, Cred t account titles are automotically indented when amount is entered, Do not indent mamualin Recard journal entries in the order presented in the problem If no entry is fequired, select "No Entry" for the occount titier and enter 0 for the amounts; (To record the lesse) (To record the receipt of iease payment) List of Accounts