ยง First monthly lease payment (made in advance) 1 August 2023
ยง Monthly lease payments for first 12 months (GST-exclusive) $4,000.00
ยง Monthly lease payments for second 12 months (GST-exclusive) * $4,100.00
ยง Monthly lease payments for third 12 months (GST-exclusive) ** $4,202.50
ยง Total undiscounted lease payments over 3-year period $147,630.00
ยง Present value of the lease payments $139,269.81
ยง Period of the lease (3 years) 36 months
ยง Depreciation method straight-line
ยง Rent increase to take effect on 1 August each year 2.5%
ยง Annual discount rate to be used for each of the 36 monthly lease payments 4.00%
what are the journal entries for the above ROU assets.