Rick Kleckner Corporation recorded a right-of-use asset for $300,000 as a result of a finance lease on December 31, 2016. Kleckners incremental borrowing rate is 8%, and the implicit rate of the lessor was not known at the commencement of the lease. Kleckner made the first lease payment of $48,337 on December 31, 2016. The lease requires eight annual payments. The equipment has a useful life of 8 years with no residual value. Prepare Kleckners December 31, 2017, entries. Please use current law change