Assume that on December 31, 2019, Kimberly-Clark Corp. signs a 10-year, non-cancelable lease agreement to lease a storage building from Sheffield Storage Company. The following information pertains to this lease agreement. 1 The agreement requires equal rental payments of $67,999 beginning on December 31, 2019. 2 The fair value of the building on December 31,2019 is $497,876. 3. 4. 5. The building has an estimated economic life of 12 years, a guaranteed residual value of $11,000, and an expected residual value of $7,100. Kimberly-Clark depreciates similar buildings on the straight-line method. The lease is nonrenewable. At the termination of the lease, the building reverts to the lessor. Kimberly-Clark's incremental borrowing rate is 8% per year. The lessor's implicit rate is not known by Kimberly-Clark. Click here to view factor tables. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Prepare the journal entries on the lessee's books to reflect the signing of the lease agreement and to record the payments and expenses related to this lease for the years 2019, 2020, and 2021. Kimberly-Clark's fiscal year-end is December 31.(Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places eg 5.275) Account Titles and Explanation Date 12/31/19 V Right-of-Use Asset Debit 494586.14 Cr 12/31/19 V 12/31/20 Lease Liability (To record the lease) Lease Liability Cash (To record first lease payment) Amortization Expense Right-of-Use Asset (To record amortization of the right-of-use asset) 12/31/20 Lease Liability 12/31/21 V 12/31/21 V Interest Expens Cash (To record interest expense) Amortization Expenas Right-of-Use Asse (To record amortization of the right-of-use asset) Intra Expen Cash (To record interest expense) 67999 49459 33872 34127 49459 36582 31417 Suppose the same facts as above, except that Kimberly-Clark incurred legal fees resulting from the execution of the lease of $5,000, and received a lease incentive from Sheffield to enter the lease of $1,000. How would the initial measurement of the lease liability and right-of-use asset be affected under this situation? Right-of-use asset $