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Help me Plz Assume that on December 31.2019, Kimberly-Clark Corp. signs a 10 year, non-cancelable lease agreement to lease as storage building from Shetfeld Storage

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Assume that on December 31.2019, Kimberly-Clark Corp. signs a 10 year, non-cancelable lease agreement to lease as storage building from Shetfeld Storage Company The following information pertains to this lease apreement. 1. The agreement requires equaitental payments of $68,499 beginning on December 31,2019. 2. The fair value of the building on December 31.2019 is $501.036. 3. The building has an estimated economic life of 12 years, a guaranteed residual value of $10,000 and an expected residual value of $5,600. Kimberly-Clark depreciates similar buildings on the straight-line method. 4. The lease is nonrenewable. 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 implicit rate is not known by Kimberly-Clark. Click here to view factor tables, (For calculation purposes, use 5 decimal places as disployed in the factor table provided.) (a) 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 yeanend is December 31 . (Credit account titles are automatically indented when amount is entered. Do not indent manuaily. Round answers to 0 decimal places eg 5,275) account tities are automaticairy inaented wnen amount is entered vo not intent manuany, Kound answers to U aecimat btaces e.t. 5,275) Chapter 21 HW Question 7 of 12 /1 (To record amortization of the right-of-use asset) (To record interest expense) (To record amortization of the right-of-use asset) SUPPORT

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