Exercise 21-04 (Part Level Submission) Assume that on December 21, 2019, Kimberly-Clark Corp. signs a 10 year, non-cancelable fease agreement to lease storage building from Sheffield Storage Company. The following Information pertains to this lease agreement. 1 The agreement requires equal rental payments of $66,799 beginning on December 31, 2019. 2 The fair value of the building on December 31, 2019 is $488,254 3. The building has an estimated economic life of 12 years, a guaranteed residual value of $9,000, and an expected residual value of $6,300. Kimberly-Clark depreciates similar buildings on the straight-line method. The tease is no renewable. At the termination of the lease, the building reverts to the lesson 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 s decimal places as displayed in the factor to be 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 tles are automatically indented when amounts entered. Do not lndent manually Round answers to decimal places e.o. 5.225.) Date Account Titles and Explanation Debit Credit (to record the last Tood first lose Damen CALCULATOR RILL SCREEN PUTUL VERSION BACK NEXT (To record stepayment) To record amortization of the night of (To record interest (Tercando nel Click if you would like to show Work for this questiontown Dil Diy satt inte