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14) [8 points] Hy Marx Company recorded a right-of-use asset of $604,000 in a 10 -year operating lease. Lease payments are made annually on January

image text in transcribed 14) [8 points] Hy Marx Company recorded a right-of-use asset of $604,000 in a 10 -year operating lease. Lease payments are made annually on January 1 of each year beginning January 1,2024 . The interest rate charged by the lessor was 10%. Note: Use appropriate factor(s) from the tables provided. (FV of $1, PV of $1, FVA of \$1, PVA of $1, FVAD of \$1 and PVAD of \$1) Required: Prepare the appropriate journal entries on January 1, 2024, and December 31, 2024. Note: Round your answers to the nearest whole dollar amounts

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