urrent Attempt in Progress Cheyenne Corporation enters into a 6-year lease of equipment on December 31,2019 , which requires 6 annual payments of $36,100 each, beginning December 31, 2019. In addition, Cheyenne guarantees the lessor a residual value of $19,800 at the end of the lease. However, Cheyenne believes it is probable that the expected residual value at the end of the lease term will be $9,900. The equipment has a useful life of 6 years. Prepare Cheyennes' December 31, 2019, journal entries assuming the implicit rate of the lease is 10% and this is known to Cheyenne. (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 0 decimal places e.g. 5,275.) Click here to view factor tables