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To determine the initial right of use asset, start with the lease liability of $500,000. Subtract the tenant improvement allowance paid by the lessor and add the broker commission paid by the lessee. Include the first month's rent paid at lease inception as prepaid rent. This results in an ending right of use asset balance of $490,000. For journal entry at lease commencement, record the right of use asset at $490,000, lease liability at $500,000, and cash for the tenant improvement allowance at $50,000.