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BOB Leasing purchased a machine for 5400000 and leased to Tupo Auto Roto 524,506 at beginning of each period 3 years (quarters) Lease description Quarterly

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BOB Leasing purchased a machine for 5400000 and leased to Tupo Auto Roto 524,506 at beginning of each period 3 years (quarters) Lease description Quarterly rental payments Lease term No residual value no po Economic life of machine Implicit interest rate Fair value of asset $400,000 What is the balance in the lease payable account after the April 2021. lease payment? Multiple Choice $391,551 $519,493 O $359,437 $375,494,

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