w wir Questions 0.43/1 Creating Oy www. w . 20 the CH Du Mario 1 1 2 6 3 4 5 6 B 0 M E R T Y U 1 I 0 P S D F G H H r L C V B N > M x X command Cond option Show Attempt story Current Attempt in Progress Your Answer Correct Answer On January 1, 2020. Ayayal Animation sold a truck to Peete Finance for $35,000 and immediately leased it back. The truck was carried on Ayayal's books at $29,000. The term of the lease is 5 years, there is no bargain purchase option, and title does not transfer to Arayal at lease-end. The lease requires Sequal rental payments of $7862 at the end of each year first payment on January 1, 2021). The appropriate rate of interest is 4%, the truck has a useful life of 5 years with no expected residual value at the end of the lease term Prepare Ayayai's 2020 Journal entries. (Credit account titles are automatically indented when the amount is entered. Do not Indent marxa For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to decimal places, s. 5.275, Record journal entries in the order presented in the problem Click here to view factor tables. Date Credit Debit Account Titles and Explanation