The stuff highlighted in red is wrong looking back it was dumb to credit $2$ cash accounts thanks hope this can be solved $-$ another question was already solved with the exact same variables except this question has $5$ lines for the journal entry for whatever reason: On July $1,2023,$ Oriole Corp., which uses IFRS, signs a $4-$year, non$-$cancellable lease agreement to lease a equipment from Ivanhoe Ltd$.$ The following information concerns the lease agreement. The equipment's fair value on July $1,2023$ is $$275,000.$ The agreement requires equal rental payments of $$57,700\mathrm{.}00$ beginning on July $1,2023.$ The equipment has an estimated economic life of $5$ years, with an unguaranteed residual value of $$77,300.$ Oriole Corp. depreciates similar equipment using the straight$-$line method, with no residual value. The lease is non$-$renewable. At the termination of the lease, the equipment reverts to Ivanhoe. Oriole's incremental borrowing rate is $6\%$ per year. The lessor's implicit rate is not known by Oriole Corp. Interest and depreciation expenses are based on the nearest full month. Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE. $($a$)$ Your answer is partially correct. The amount of the right$-$of$-$use asset $5,125\mathrm{.}76.)$ Lease Liability Cash Cash