Problem 10-8A Intangible assets, Right-of-Use Lease Asset LO P4 On January 1, Falk Company signed a contra ntract to lease space in a building for three years. The current value of the three lease payments is $239,400. Required: Prepare entries for Falk to record (a) the lease asset and obligation at January 1, and (b) the $79.800 straight-line amortization at December 31 of the first year. View transaction list Journal entry worksheet Record lease asset and obligation. Note: Enter debits before credits Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal