Neri Foods Corporation leased a commercial food processor on September $30,2024.$ The five$-$year finance lease agreement calls for Neri to make quarterly lease payments of $$104,413,$ payable each September $30,$ December $31,$ March $31,$ June $30,$ with the first payment at September $30,2024.$ Neri's incremental borrowing rate is $12\%.$ Neri records amortization on a straight$-$line basis at the end of each fiscal year. Neri recorded the lease as follows:

September $30,2024$

$\backslash$table$[[$General Journal,,$],[\backslash$table$[[$Right$-$of$-$use asset $($calculated below$)],[$Lease payable $($calculated below$)]],1,600,000,$Debit$],[\backslash$table$[[$Lease payable$],[$Cash $($first payment$)]],104,413,1,600,000$