The following relate to an operating lease agreement:

a$.$ The lease term is three years, beginning January $1,2024.$

b$.$ The leased asset cost the lessor $$800,000$ and had a useful life of eight years with no residual value. The lessor uses straight$-$line depreciation for its depreciable assets.

c$.$ Annual lease payments at the beginning of each year were $$137,000.$

d$.$ Incremental costs of negotiating and consummating the completed lease transaction incurred by the lessor were $$2,400.$

Required:

Prepare the appropriate entries for the lessor from the beginning of the lease through the end of the lease term.

Note: Round your intermediate and final answers to the nearest whole dollar amount. If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

$1$

$2$

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$5$

$6$

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$8$

$13$

Record the cash received.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $01,2024,,,],[,,,],[,,,],[,,,],[,,,]]$