Assume instead that Cullumber follows IFRS and that the amount expected to be paid under the residual value guarantee is $11,000. Calculate the amount of the right-of-use asset and prepare Cullumbers September 2020 journal entry, assuming an interest rate of 12%. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275.)