Oriole Corp., which uses IFRS, signs non-renewable, non-cancellable lease agreement to lease robotic equipment from Xiu Inc. The following information concerns the lease agreement.

Inception date		January 1, 2020
Lease term		5 years
Fair value of equipment Jan. 1, 2020		$100,000
Economic life of leased equipment		7 years
Annual rental payments starting Jan. 1, 2020		$17,021
Option to purchase at the end of the term		none
Depreciation method		Straight-line
Residual value		none
Orioles incremental borrowing rate		6%

Using (1) factor tables, (2) a financial calculator, or (3) Excel functions, calculate the amount of the right-of-use asset and lease liability. (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275.)

The amount of the right-of-use asset

$

Prepare the initial entry to reflect the signing of the lease agreement. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1, 2020

Prepare an amortization schedule for the term of the lease to be used by Oriole. Use Excel. (Round answers to o decimal places, e.g. 5,275.) Oriole Corp. Lease Amortization Schedule (Lessee) Interest on Unpaid Liability Annual Payment Reduction of Lease Liability Balance of Lease Liability Date January 1, 2020 $ January 1, 2021 January 1, 2022 January 1, 2023 January 1, 2024 Prepare the journal entries on Oriole Corp.'s books to record the payments related to this lease for the years 2020 and titles are automatically indented when the amount is entered. Do not indent manually. If no entry is require Date Account Titles and Explanation Debit Credit (To record depreciation) (To record interest) (To record depreciation) (To record interest)