Teal Mountain, Inc. has entered an agreement to lease an old warehouse with a useful life of 5 years and a fair value of $29,000 from United Corporation. The agreement stipulates the following. Rental payments of $7,069 are to be made at the start of each year of the 5-year lease. No residual value is expected at the end of the lease. Teal Mountain must reimburse United each year for any real estate taxes incurred for the year. Last year, the cost of real estate taxes was $600, though these costs vary from year to year. Teal Mountain must make a payment of $500 with the rental payment each period to cover the insurance United has on the warehouse. Teal Mountain paid legal fees of $1,000 in executing the lease. Assuming Teal Mountain's incremental borrowing rate is 11% and the rate implicit in the lease is unknown, prepare the journal entry to record the initial lease liability and right-of-use asset for Teal Mountain. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to 0 decimal places, e.g. 5,275.) Click here to view the factor table. Account Titles and Explanation Debit Credit Right-of-Use Asset 33513 Lease Liability 24344 Cash 9169