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c. L leased a $13,000 vehicle from a company. The terms of the lease were 48-months, six percent interest, and monthly payments of $285. The

c. L leased a $13,000 vehicle from a company. The terms of the lease were 48-months, six percent interest, and monthly payments of $285. The vehicle had a six-year life. Prepare the journal entry for the first monthly payment.

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