YOUR Company leases a machine from MY Company on July $1,20$x$1.$ Lease payments of $$14,806$ are due each July $1,$ beginning July $1,20$x$1.$ The lease qualifies as a finance lease for YOUR Company and a sales$-$type lease for MY Company. The incremental borrowing rate for YOUR Company is $10\%.$ The lessor's implicit rate is $8\%.$ The carrying value on the books of MY Company is $$70,000.$

The lease term is $8$ years. The useful life of the machine is $10$ years. The fair value of the machine at the inception of the lease is $$100,000.$ The expected residual value at the end of $8$ years is $$15,000$ and at the end of $10$ years is $$6,000.$ The lessee guarantees $$9,000$ of the salvage value.

YOUR Company capitalized the lease at that value, $$91,892.$

Make the journal entry$($ies$)$ for MY Company $($the lessor$)$ for at the inception $($July $1,20$x$1$ only$)$ of the lease.