Teal Mountain Corporation manufactures drones. On December 31, 2019, it leased to Althaus Company a drone that had cost $111,400 to manufacture. The lease agreement covers the 5-year useful life of the drone and requires 5 equal annual rentals of $41,900 payable each December 31, beginning December 31, 2019. An interest rate of 10% is implicit in the lease agreement. Collectibility of the rentals is probable. Prepare Teal Mountain's December 31, 2019, journal entries. (Credit account titles are automatically indented when 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.) Click here to view factor tables. Date Account Titles and Explanation December 31, 2019 December 31, 2019 (To record the lease) (To record receipt of lease payment) Debit Credit