Use the information for Indiana Jones Corporation from BE21-9. Assume that for Lost Ark Com- pany, the

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Use the information for Indiana Jones Corporation from BE21-9. Assume that for Lost Ark Com- pany, the lessor, collectibility is reasonably predictable, there are no important uncertainties concerning costs, and the carrying amount of the machinery is $155,013. Prepare Lost Ark's January 1, 2008, journal entries.

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Intermediate Accounting 2007 FASB Update Volume 2

ISBN: 9780470128763

12th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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