Swifty Corporation leased equipment to Windsor, Inc. on January 1, 2025. The lease agreement called for annual rental payments of $1,439 at the beginning of each year of the 3-year lease. The equipment has an economic useful life of 7 years, a fair value of $9,800, a book value of $7,800, and Swifty expects a residual value of $7,300 at the end of the lease term. Swifty set the lease payments with the intent of earning a 8\% return, though Windsor is unaware of the rate implicit in the lease and has an incremental borrowing rate of 10%. There is no bargain purchase option, ownership of the lease does not transfer at the end of the lease term, and the asset is not of a specialized nature. Part 3 How would the measurement of the lease liability and right-of-use asset be affected if, as a result of the lease contract, Windsor was also required to pay $600 in commissions, prepay $800 in addition to the first rental payment, and pay $200 of insurance each year? (Round answers to 0 decimal places, e.g. 5,275.) Part 4 Suppose, instead of a 3-year lease term, Windsor and Swifty agree to a one-year lease with a payment of $1,368 at the start of the lease. Prepare necessary journal entry for Windsor (Credit account titles are automatically indented when the amount is entered. Do not indent manuallv.) Prepare all necessary journal entries for Windsor in 2025. Windsor uses straight-line depreciation. (List all debit entries before credit entries. Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record the lease) (To record lease payment)