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 567.999 beginning on December 31, 2019 2 The fair value of the building on December 31, 2019 is $497.876 3. The building has an estimated economic life of 12 years, a guaranteed residual value of $11,000 and an expected residual value of 57.100.Kimberly Clark depreciates similar buildings on the straight line method 4. The lease is no renewable. At the termination of the lease, the building reverts to the lessor 5. Kimberly Clark's incremental borrowing rate is 8% per year. The lessor's implicitrate 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) - Your answer is partially correct 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 year 2019, 2020 and 2021. Kimberly Clarksscal year-end is December 31. Credit accounts are automatically indented when amount is entered. Do not inden m all Round onwers to decimal places 5.275) Date Account Titles and Explanation Credit 12/31/1 Right of Use Asset Les Liability (To record the lease) 12331/19 - (To record first l e payment) 201/20 t he se (To record amortization of the right of-use asset) terest Expense ST 12/31/20