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the end of the lease, Blossom has the option to buy the equipment for $ 5 , 0 0 0 , considerably below its estimated

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the end of the lease, Blossom has the option to buy the equipment for $5,000, considerably below its estimated fair value at that time.
The equipment has an estimated useful life of 7 years, with no salvage value. Blossom uses the straight-line method of depreciation on
similar owned equipment.
Click here to view factor tables.
Your answer is partially correct.
Prepare the journal entries, that Blossom should record on December 31,2025.(Credit account titles are automatically indented
when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the
amounts. Round present value factor calculations to 5 decimal places, e.g.1.25124 and the final answers to 0 decimal places, e.g.58,971.
List all debit entries before credit entries.)
Date
Account Titles and Explanation
Debit
Credit
December
31,2025
Right-of-Use Asset
(To record leased asset and related liability.)
December
31,2025
(To record the first rental payment.)
eTextbook and Media
List of Accounts
Your answer is partially correct.
Prepare the journal entries, that Blossom should record on December 31,2026.(Credit account titles are automatically indented
when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the
amounts. List all debit entries before credit entries.)
(To record annual payment on lease liability.)
THE RED BOXES MEANS THE ANSWER IS WRONG. WILL UPVOTE PLEASE ANSWER
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