Oriole, Inc. has entered an agreement to lease an old warehouse with a useful life of 5 years and a fair value of $42,000 from Pharoah Corporation. The agreement stipulates the following. - Rental payments of $9,239 are to be made at the start of each year of the 5-year lease. No residual value is expected at the end of the lease. - Oriole must reimburse Pharoah each year for any real estate taxes incurred for the year. Last year, the cost of real estate taxes was $800, though these costs vary from year to year. - Oriole must make a payment of $500 with the rental payment each period to cover the insurance Pharoah has on the warehouse. - Oriole paid legal fees of $2,500 in executing the lease. Assuming Oriole's incremental borrowing rate is 5% and the rate implicit in the lease is unknown, prepare the journal entry to record the initial lease liability and right-of-use asset for Oriole. (List all debit entries before credit entries. 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. For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to 0 decimal places, e.g. 5,275.)