Teal Mountain Company leased equipment from Costner Company, beginning on December 31, 2019. The lease term is 4 years and requires equal rental payments of $87,787 at the beginning of each year of the lease, starting on the commencement date (December 31, 2019). The equipment has a fair value at the commencement date of the lease of $310,000, an estimated useful life of 4 years, and no estimated residual value. The appropriate interest rate is 9%. Click here to view factor tables. Prepare Teal Mountain's 2019 and 2020 journal entries, assuming Teal Mountain depreciates similar equipment it owns on a straight-line basis. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to O decimal places, e.g. 5,275.) Date Debit Credit Account Titles and Explanation Right-of-Use Asset 12/31/19 310,000 310,000 Lease Liability (To record lease liability) Lease Liability 12/31/19 87,787 Cash 87,787 (To record lease payment) 12/31/20 Interest Expense 13,333 Lease Liability 74,454 Cash 87,787 (To record interest expense) Amortization Expense 12/31/20 77,500 77,500 Right-of-Use Asset (To record amortization of the right-of-use asset)