Ivan Oder Co. recorded a right-of-use asset of $300,000 in a 10-year operating lease. Lease payments of $44,385 are made annually at January 1 of each year beginning January 1, 2021. The interest rate charged by the lessor was 10%. Required: Prepare the appropriate journal entries on January 1, 2021, and December 31, 2021. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amounts.) View transaction list Journal entry worksheet 1 2 3 4 > Docord balance