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1. The city manager signs a capital lease for 5 Dell Computers, committing the city to make 5 total annual payments of $10,000 each with
1. The city manager signs a capital lease for 5 Dell Computers, committing the city to make 5 total annual payments of $10,000 each with the first payment due at the inception of the lease. These total payments have a value of $46,300 (4%). Journalize the entry to record the receipt of the computers
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