Winn Heat Transfer leased office space under a three-year operating lease agreement. The arrangement specified three annual rent payments of $80,000 each, beginning January 1, 2011, the inception of the lease, and at each january 1 through 2013. Winn also paid $96,000 advance payment at the inception of the lease in addition to the first $80,000 rent payment. With permission of the owner, Winn made structural modifications to the building before occupying the space at a cost of $180,000. The useful life of the building and the structural modifications were estimated to be 30 years with no residual value. Prepare the appropriate entries for Winn Heat Transfer from the inceptiion of the lease through the end of 2011. Winn's fiscal year is the calendar year. Winn used stright-line depreciation.