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Air Berhad enters into an agreement with Bowing Ltd for lease of an aircraft, with an option to extend for five years. The details of

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Air Berhad enters into an agreement with Bowing Ltd for lease of an aircraft, with an option to extend for five years. The details of the lease agreement are as following: The present value of each lease payment is given as below: Required: In accordance to Paragraph 26 of MFRS 16, Leases, prepare the amortization schedule for Air Berhad. You may use the following format: ( T marks)

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