McFarlane County entered into a lease agreement for the right to use a building that resulted in a PV of $2,400,000. The following entry would be recorded for the initial agreement for presentation in the fund financial statements: In CPF, DR: Expenditures $2,400,000 and CR: OFS-Lease Agreement $2,400,000. In CPF, DR: Right of Use Asset $2,400,000, CR:Lease Liability. In GF. DR:OFU-Lease Agreement $2,400,000, CR: OFS-Lease Agreement $2,400,000. In DSF, DR: Expenditures $2,400,000, CR: OFS-Lease Agreement $2,400,000. Next > Previous