Brief Exercise 21A-7 Your answer is partially correct. Try again. Larkspur Corporation recorded a right-of-use asset for $410,400 as a result of a finance lease on December 31, 2016, Larkspur's incremental borrowing rate is 10%, and the implicit rate of the lessor was not known at the commencement of the lease. Larkspur made the first lease payment of $64,784 on on December 31, 2016. The lease requires 9 annual payments. The equipment has a useful life of 9 years with no residual value. Prepare Larkspur's December 31, 2017, entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places e.g. 5,275) Date Credit Account Titles and Esplanation December 31, 21 Accounts Payable 34572 Interest Expense 457 Interest Payable 4572 To record interest expense December 31,2017 Depreciation Expense 456 Accumulated Depreciation-Capital Leases 45600 To record amortization of the right-of-use asset