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31. For Jones Company. The lessee the present value of 6 lease payments is $500,000. The interest rate is 10%. Each payment is 5100.000. The

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31. For Jones Company. The lessee the present value of 6 lease payments is $500,000. The interest rate is 10%. Each payment is 5100.000. The first payment is made at the start of the lease. The outstanding balance in Lease Payable after the first payment is a. $600.000 b. $500.000 c. $400,000 d. $300,000 e none of the above

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