Only need 2017 journal entries for Ivanhoe and right-of-use asset. I included the entries for Metlock for context.

Exercise 21A-17 a-c On January 1, 2017, Metlock Co. leased a building to Ivanhoe 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 $3,600,000 (unguaranteed). 1. 2. The leased building has a cost of $4,100,000 and was purchased for cash on January 1, 2017. 3 The building is depreciated on a straight-line basis. Its estimated economic life is 50 years with no salvage value. 4. Lease payments are $265,000 per year and are made at the beginning of the year Ivanhoe has an incremental borrowing rate of 5%, and the rate implicit in the lease is unknown to Ivanhoe. Both the lessor and the lessee are on a calendar-year basis. 6. Prepare the ournal entries that Metlock shoud make in 2017. (Credit account tittes are automatiealy Indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 1/1/17 Buildings 4100000 Cash (To record cost of the building) Cash 100000 265000 Unearned Lease Revenue 265000 (To record receipt of lease payment) 12/31/17 Unearned Lease Revenue 265000 Rent Revenue (To record the recognition of the revenue each period) Depreciation Expense 265000 82000 Accumulated Depreciation-Building (To record depreciation expense on the leased asset) 82000 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Prepare the journal entries that Ivanhoe should make in 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually, Round answers to 0 decimal p laces, e.g. 5,275) Date Account Titles and Explanation Debit Credit (To record the lease) (To record lease liability) 12/31/17 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT If Ivanhoe paid $20,000 to a real estate broker on January 1, 2017, 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: s Open Show Work