To raise operating funds, National Distribution Center sold its office building to an insurance company on January 1. 2021. for $850,000 and immediately leased the building back. The operating lease is for the final 10 years of the building's estimated 20-year remaining useful life. The building has a fair value of $850,000 and a book value of $675,000 (its original cost was $1 million). The rental payments of $150,000 are payable to the ins urance company each December 31. The lease has an implicit rate of 7%. (FV of $1. PV of $1. FVA of $1, PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Requlred: 1. & 2. Prepare the appropriate entries for National Distribution Center on January 1, 2021 and December 31, 2021, to record the sale-leaseback and necessary adjustments. (If no entry Is required for a transaction/event, select "No journal entry required" In the first account fleld.)