Required:

Note $17$ indicates that Target's finance lease liability at February $1,2020$ is $$1,370(=$ $$67$ current $+$$$1,303$ noncurrent$)$ while its

finance lease assets are $$1,180.$ Why do the asset and liability amounts differ?

Target's finance lease assets are listed on February $1,2020,$ at $$1,180$ million. What was the original amount recorded for these

specific right$-$of$-$use assets when the leases commenced?

Refer to Target's Statement of Cash Flows. Prepare a journal entry that summarizes Target's acquisition of assets by operating

lease for the twelve months ended February $1,2020.$

Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Required $3$

Target's finance lease assets are listed on February $1,2020,$ at $$1,180$ million. What was the original amount recorded for

these specific right$-$of$-$use assets when the leases commenced?

Note: Enter your answer in millions $($i$.$e$.,10,00,000$ should be entered as $10).$