Part 2: On January 1 Year 1. Lassie Inc. leased retail mall space under an operating lease agreement. The arrangement required five annual rent payments of $480.000 each beginning December 31, Year 1, and at each December 31 through the end of the lease term. The lessor, Dog Gone Leasing, typically finances rental space at an annual interest rate of 6%. Lassie Inc made improvements to the mall space at a cost of $650,000 prior to opening its doors. The estimated life of the leasehold improvements was estimated to be 10 years with no residual value Using the partial amortization table provided answer the following questions by entering the appropriate dollar amounts in the cells indicated, rounded to the nearest whole dollar. If the amount is 50, you must enter "0" in the cell to receive credit Enter all amounts as positive values. Cash Payment Interest Expense Component Principal Reduction Payment Date Jan 1, Year 1 Dec 31, Year 1 Dec 31 Year 2 Outstanding Balance $2.021.933 1663,249 1283,044 $358,684 $480,000 480.000 $121,316 99,795 380 205 123 173 1. What is the debit to the Right-of-Use (ROU) Asset on January 1, Near 12 k. What was the debit to Leasehold Improvements on January 1 Year 11? B. What is the debit to Lease Expense on December 31 Year 12 130 123 4. What is the debit to Lease Liability on December 31 Year 1?| 5. What is the credit to the ROU asset on December 31 Year 2? 6. What is the debit to Amortization ExpenseLeasehold mprovements on December 31, Year 1