Tartufo Corp. entered into a 5-year lease agreement with Gelato Inc. to lease equipment beginning on January 1, 20X5. The IBR is 9% while the rate implicit in the lease is 8% Tartufo Corp. is aware of the rate implicit in the lease Annual payments of $56,500 at the beginning of the year are required. The lease stipulates a $40.000 residual value guarantee but Tartufo Corp expects a $12,000 payout will be required. Tartufo Corp. will return the equipment to Gelato Inc, at the end of the lease term. (PV of $1. PVA of S1, and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) Required: Provide journal entries pertaining to this lease for Tartufo Corp. for the 20x5 year. Tartufo Corp uses straightline depreciation for similar assets, with a half-year of deprecation recorded in the year of acquisition (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round Intermediate calculations and final answers to the nearest whole dollar amount.) Journal entry worksheet