BE 21.7 Rick Kleckner Corporation recorded a right-of-use asset for $300,000 as a result of a finance lease on December 31, 2019. Kleckner's incremental borrowing rate is 8%, and the implicit rate of the lessor was not known at the commencement of the lease. Kleckner made the first lease payment of $48,337 on December 31, 2019. The lease requires eight annual payments. The equipment has a useful life of 8 years with no residual value. Prepare Kleckner's December 31, 2020, entries.

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Part A: 2 f2
Part B: draw a diagonal (AC, for example); 1 f12
Step-by-step explanation:
Part A:
The area of a parallelogram is given by the
formula
A=bh
where "b' is the length of the base, and 'h' is the
perpendicular distance between the bases.
Using the numbers shown on the diagram, the
area is
A = (3 ft)(2/3 ft) = 3-2/3 f12
A =2 ft2 area of the parallelogram
Part B:
Typically, a polygon is partitioned into triangles
by drawing diagonals from one of the vertices. It
does not matter which one. (In a quadrilateral,
only one diagonal can be drawn from any given
vertex.) Here, the "base" of each triangle is the
same as the base of the parallelogram: 3 feet.
The "height" of each triangle is the same as the
height of the parallelogram: 2/3 ft.
The area of a triangle is given by the formula