Leased a delivery truck to YA right after purchasing it for $40,000 on December 31st, 2021. Its retail value is $45,114. The lease agreement specifies annual payments of $11,000, including $1,000 maintenance fee, beginning December 31st, and at each December 31 through 2024. The interst rate for determining payments was 10%. At the end of the four-year lease term (December 31, 2025), the truck was expected to be worth $15,000. The useful life of the truck is five years with no salvage value. The company uses straight-line method. In addition, the guaranteed residual value was $6,000. Required:
What is the journal entry/entries?

Depreciation on the company's equipment for 2017 is computed to be $18,000.the prepaid insurance account had a $6,000 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of the company's insurance policies showed that $1,100 of unexpired insurance coverage remains.the office supplies account had a $700 debit balance on december 31, 2016; and $3,480 of office supplies were purchased during the year. the december 31, 2017, physical count showed $300 of supplies available.two-thirds of the work related to $15,000 of cash received in advance was performed this period.the prepaid insurance account had a $6,800 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of insurance policies showed that $5,800 of coverage had expired.wage expenses of $3,200 have been incurred but are not paid as of december 31, 2017.