We purchased a $10,000 piece of equipment on a lease with an option to buy for $1 at the end of the lease. We are cash basis accounting. I have been posting the payments under equipment leasing. So now we purchased for $1. What would my General Journal entry look like to make it an asset at the end of the lease purchase. FMV is about $8500. 

We have Quickbooks Pro 2018. Thank you in advance.