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account names are correct but need numbers thanks Wildhorse Company leases a building to Sandhill, Inc on January 1, 2025. The following facts pertain to
account names are correct but need numbers thanks
Wildhorse Company leases a building to Sandhill, Inc on January 1, 2025. The following facts pertain to the lease agreement: 1. The lease term is 4 years, with equal annual rental payments of $5,105 at the beginning of each year. 2. Ownership does not transfer at the end of the lease term, there is no bargain purchase option, and the asset is not of a specialized nature. 3. The building has a fair value of $20,400, a book value to Wildhorse of $13,400, and a useful life of 5 years 4. At the end of the lease term. Wildhorse and Sandhill expect there to be an unguaranteed residual value of $3,350 5. Wildhorse wants to earn areturn of 9 K on the lease, and collectibility of the payments is probable. This rate is known by Sandhill. Clickhere to view factor tables (b) Using the original facts of the lease. show the journal entries to be made by both wildhorse and Sandhill in 2025. (List all deblt entries before credit entries If no entry is required, select 'No Entry' for the occount titles and enter Ofor the amounts. For colculation purposes. use 5 decimal ploces as displayed in the factor fable provided and round final answers to 0 decimal places, es. 5.275, Crealt occount tliles are outomatically indented when the amount is entered. Do not indent manuall(d) Wildhorse's Jocirnal Entries Widhorse's Journal Entries Sandhilts Joumal Eotries Step by Step Solution
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