7. On 1/1/YR1 EE enters into a lease that is properly classified as an operating lease. The information regarding the operating lease is as follows: Lease Terms and Other Information Economic Life Lease Term Implicit Rate 5.0% Annual Year End Lease Payments $250,000 6 4 On 1/1/YR1 the lessee properly records a right-of-use asset and a lease payable of $886,488. a. Provide the journal entry(ies) EE will make on 12/31/YR1 to account for this lease. b. How much amortization expense will EE recognize on 12/31/YR1 for this lease