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6 At the beginning of the current year, an enterprise fund enters a 3-year lease with these terms: $100,000 is due at signing, and payments
6 At the beginning of the current year, an enterprise fund enters a 3-year lease with these terms: $100,000 is due at signing, and payments of $100,000 per year are due at the end of each of the next two years. The lease agreement carries an interest rate of 3%. The present value of the lease payments is $291,347. At the start of the lease, the enterprise fund: Select one: A. Records $291,347 as a long-term asset at the time of the lease signing. B. Records $100,000 in other financing uses at the time of the lease signing. C. Does not record the present value of the lease, but records $100,000 in expenses with each payment. D. Records $291,347 in other financing sources at the time of the lease signing
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