On January 1, 2024, Rick's Pawn Shop leased a truck from Corey Motors for a six-year period with an option to extend the lease for three years. Rick's had no significant economic incentive as of the beginning of the lease to exercise the three-year extension option. Annual lease payments are $17,500 due on December 31 of each year, calculated by the lessor using a 6% interest rate. The agreement is considered an operating lease. Note: Use tables, Excel, or a financial calculator. (FV of \$1, PV of \$1. FVA of \$1. PVA of \$1. FVAD of \$1 and PVAD of \$1) Required: 1. Prepare Rick's journal entry to record for the right-of-use asset and lease llability on January 1, 2024. 2. Prepare the journal entries to record interest and amortization on December 31, 2024