Question
At the beginning of 2022, GM enters a finance lease requiring 7 annual payments of $4,000 each with the first payment on the first day
At the beginning of 2022, GM enters a finance lease requiring 7 annual payments of $4,000 each with the first payment on the first day of the lease. Assuming the lease interest rate is 5%, the amount of interest expense recognized by GM in 2022 is closest to:
A. $1,015
B.$957
C.$4,000
D.$815
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Cost Accounting Theory And Practice
Authors: R. Palaniappan, N. Hariharan
1st Edition
9380578342, 978-9380578347
