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A lease has the following information: Annual lease payments of $5,000 payable at the end of year. The interest rate implicit in the lease
A lease has the following information: Annual lease payments of $5,000 payable at the end of year. The interest rate implicit in the lease is 9% and is known. The PV of lease payments equal $19,448. What is the interest expense in year 2:
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To calculate the interest expense in year 2 we need to know the lease liability at the beginning of ...
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
