Brief Exercise 21-07 Sage Hill Corporation recorded a right-of-use asset for $342,000 as a result of a finance lease on December 31, 2019. Sage Hill's incremental borrowing rate is 14%, and the implicit rate of the lessor was not known at the commencement of the lease. Sage Hill made the first lease payment of $60,651 on on December 31, 2019. The lease requires 9 annual payments. The equipment has a useful life of 9 years with no residual value. Prepare Sage Hill's December 31, 2020, entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places e.g. 5,275.) Date Account Titles and Explanation Debit Credit December 31, 2020 (To record interest expense) December 31, 2020 (To record amortization of the right-of-use asset) Click if you would like to Show Work for this question: Open Show Work