I need part c please !

By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Attempts: 1 of 3 used (c) If Pharoah paid $35,000 to a real estate broker on January 1, 2020, as a fee for finding the lessor, what is the initial measurement of the right-of-use asset? Right-of-use asset $ Click If you would like to Show Work for this question: Open Show Work 1. 2 3. 4. 5. Exercise 21-17 (Part Level Submission) On January 1, 2020, Shamrock Co. leased a building to Pharoah Inc. The relevant information related to the lease is as follows The lease arrangement is for 10 years. The building is expected to have a residual value at the end of the lease of $3,100,000 (unguaranteed). The leased building has a cost of $3,600,000 and was purchased for cash on January 1, 2020. The bullding is deprecated on a straight-line basis. Its estimated economic life is 50 years with no salvage value. Lease payments are $285,000 per year and are made at the beginning of the year. Pharoah has an incremental borrowing rate of 7%, and the rate implicit in the lease is unknown to Pharoah. 6. Both the lessor and the lessee are on a calendar-year basis. Click here to view factor tables (For enleulation purposes, use declm places as displayed in the factor table provided.) (a) Your answer is correct Prepare the journal entries that Shamrock should make in 2020. (Credit account bieles are automatically indented when amount is entered. Do not indent manually. Record Journal entries in the order presented in the problem.) Account Titles and Explanation Date Debit Credit 1/1/20 . Buddings 3,600,000 3,600,000 Cash (To record cost of the building) 1/1/20 Cash 285,000 Pulley 2000. In case Prepare the journal entries that Shamrock should make in 2020. (Credit account ttles are automatically Indented when amo Indent manually. Record journal entries in the order presented in the problem.) Date Credit Debit Account Titles and Explanation 1/1/20 Buildings 3,600,000 3,600,000 Cash (To record cost of the building) 1/1/20 Cash 285,000 Unearned Lease Reveni 285,000 (To record receipt of fease payment) 12/31/2010 Uneared Lease Revenue 285,000 M Lease Revenue (To record the recognition of the revenue each period) 285,000 12/31/2011 Depreciation Expense 72,000 Accumulated Depreciati (To record depreciation expense on the leased asset) 72,000 Prepare the journal entries that Pharoah should make in 2020. (Credit account titles are automatically Indented wh indent manually. Round answers to 0 decimal places, e.g. 5,275. Record fournal entries in the order presente Date Account Titles and Explanation Debit Credit 1/1/20 Right-of-Use Asset 2,141,841 2,141,841 Lease Liability (To record the lease) 1/1/20 Lease Liability 285,000 Lease Liability Cash 285,000 (To record lease payment) 12/31/20 Lease Expense 285,000 Right-of-Use Asset 155,021 lease Liability 129,979 A ORA