I have gotten every other part of the question correct, but I don't have a clue on this part.

Propiem 21-01 The following facts pertain to a non-cancelable lease agreement between Faldo Leasing Company and Carla Company, a lessee. January 1, $114,639 Commencement date Annual lease payment due at the beginning of each year, beginning with January 1, Residual value of equipment at end of lease term, guaranteed by the lessee Expected residual value of equipment at end of lease term Lease term Economic life of leased equipment Fair value of asset at January 1, Lessor's implicit rate Lessee's incremental borrowing rate $53,000 $48,000 6 years 6 years $620,000 7 % 7 % The asset will revert to the lessor at the end of the leasetterm. The lessee uses the straight-line amortization for all leased equipment. Click here to view factor tables. Help System Announcements CALCULATOR PRINTER VERSION 4 BACK SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT x Your answer is incorrect. Try again. Suppose Carla received a lease incentive of $5,000 from Faldo Leasing to enter the lease. How would the initial measurement of the lease liability and right-of-use asset be affected? Right-of-use asset 589,683 Lease Liability What if Carla prepaid rent of $5,000 to Faldo? Right-of-use asset 589,683 Lease Liability Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Question Attempts: 1 of 2 used SAVE FOR LATER SUBMIT ANSWER S Kieso, Intermediate Accounting, 1 Help System Announcements Your answer is correct. Prepare an amortization schedule that would be suitable for the lessee for the lease term. (Round present value factor calculations to 5 de answers to 0 decimal places e.g. 5,275.) CARLA COMPANY (Lessee) Lease Amortization Schedule Interest on Reduction of Lease Liability Liability Annual Lease Payment Plus GRV Date Lease Liability 1/1/20 588,015 1/1/20 114,639 114,639 473,376 1/1/21 114,639 33,136 81,503 391,873 1/1/22 114,639 27,431 87,208 304,665 M 1/1/23 114,639 21,327 93,312 211,353 1/1/24 114,639 14,795 99,844 111,509 1/1/25 114,639 7,806 106,833 4,676 12/31/26 5,000 327 4,673 0 692,834 104,822 588,012 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Prepare all of the journal entries for the lessee for and to record the lease