Tartufo Corp. entered into a 5-year lease agreement with Gelato Inc. to lease equipment beginning on January 1, 20X5. The IBR is 9% while the rate implicit in the lease is 8%. Tartufo Corp. is aware of the rate implicit in the lease. Annual payments of $61,500 at the beginning of the year are required. The lease stipulates a $50,000 residual value guarantee but Tartufo Corp. expects a $10,000 payout will be required. Tartufo Corp. will return the equipment to Gelato Inc. at the end of the lease term. (PV of $1, PVA of $1, and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) Required: Provide journal entries pertaining to this lease for Tartufo Corp. for the 20X5 year, Tartufo Corp. uses straight-line depreciation for similar assets, with a half-year of deprecation recorded in the year of acquisition. Part Based on allocating the lease payment on relative stand-alone prices, the lease component is $94,400 and the non-lease component for maintenance is $9,600. Niko has a residual guaranteed value of $26,500 at the end of the lease term. Niko's IBR is 10% (PV of $1. PVA of $1. and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) Required: 1. Calculate the ROU asset. (Round your intermediate calculations and final answer to the nearest whole dollar amount 2. Record the initial journal entry at commencement of the lease. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount. Do not round intermediate calculations.)