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On December 31,2024, Skysons Corporation signed a 5-year, non-cancelable lease for a machine The terms of the lease called for Skysong to make annual payments of $8,162 at the beginning of each year, starting December 31, 2024, The machine has an estimated useful life of 6 years and a $5,100 unguaranteed residual value. The machine reveris back to the lessor at the end of the lease term. Skysong uses the straight-line method of depreciation for all of its plant assets. Skysong's incremental borrowing rate is 5%, and the lessor's implicit rate is unknown. Ctick here to view factor tables. Compute the present value of the lease payments. (For calculation purposes, use 5 decimal places as displayed in the foctor table provided and round final answer to 0 decimat ploces es. 5,275.) Present value of the lease payments: Prepare all necessary journal entries for Skysong for this lease through December 31, 2025. (Uist all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit occount titles are automotically indented when amsunt is entered, Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the omounts. Round answers to 0 decimal placeses. 5.275

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