Target Corporation prepares its financial statements according to US. GAAP. Target's financial statements and disclosure notn year ended February 1,2020, are avaliable here. This material is also available under the investor Relations link at the compung website (www targetcom). Note: Use tables, Excel, or a financial calculator. (FV of S1. PV of S1. EVA of S1. PVA of S1. EVAD of S1 and PVAD of S1) Required: 1. Note 17 indicates that Target's finance lease liability at February 1,2020 is $1,370(=$67 current +$1,303 noncurrent) finance lease assets are $1,180. Why do the asset and liability amounts differ? 2. Target's finance lease assets are listed on February 1, 2020, at $1,180 million. What was the original amount recorded fort specific right-of-use assets when the leases commenced? 3. Refer to Target's Statement of Cash Flows. Prepare a journal entry that summarizes Target's acquisition of assets by oper lease for the twelve months ended February 1,2020. Complete this question by entering your answers in to tabs below. Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended February 1,2020, are aval able here. This material is also available under the Investor Relations link at the company's website (umw target com). Note: Use tables, Excel, or a financial calculator. (FV of S1. PV of S1. FVA of S1. PVA of S1. FVAD of S1 and PVAD of S1) Required: 1. 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 liablity amounts differ? 2. 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? 3. Refer to Target's Statement of Cash Flows. Prepare a journal entry that summarizes Targets acquisition of assets by operating lease for the twelve months ended February 1, 2020 Complete this question by entering your answers in the tabs below. Note 17 indicates that Target's finance lease liability at February 1, 2020 is $1,370 (=\$67 current + $1,303 noncurrent) while its -finance 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? After the commencement of the lease, finance lease liabilities are reduced by the principal portion of lease payments, but lease assets are reduced by amortization. When Target first recorded its finance leases, right-of-use assets increased by the present value of lease payments, while liabilities increased by the total of lease payments. 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). 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. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,00,000 should be entered as 10). Show less A Journal entry worksheet Record the Target's acquisition of assets by operating lease for the twelve months ended February 1, 2020. Wote: Enter debits before credits