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right - of - use lease. Mackenzie negotiated a lease agreement for approximately 2 , 0 0 0 square feet of retail space at $

right-of-use lease. Mackenzie negotiated a lease agreement for approximately 2,000 square feet of retail space at $1,200 monthly. The contract was written for six years, with an option to renew for five more years. The landlord agreed to give the girls two months of free rent on the front end of the lease to help the new business survive the critical start-up period. What would the journal entries be for this lease starting on the date of signing March 31,2023 until December 31,2023 of that first year?

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