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Carla Vista Leasing Company leases a new machine to Sandhill Corporation. The machine has a cost of $ 6 5 , 0 0 0 and
Carla Vista Leasing Company leases a new machine to Sandhill Corporation. The machine has a cost of $ and fair value of $ Under the year, noncancelable contract, Sandhill will receive title to the machine at the end of the lease. The machine has a year useful life and no residual value. The lease was signed on January Carla Vista expects to earn an return on its investment, and this implicit rate is known by Sandhill. The annual rentals are payable on each December beginning December Click here to view factor tables. b Your answer is correct. Prepare an amortization schedule that would be suitable for both the lessor and the lessee and that covers all the years involved. For calculation purposes, use decimal places as displayed in the factor table provided and round final ansiwers to decimal places eg Date Rent Receipt Payment Interest Revenue Expense Reduction of Principal Receivat $ $ When eTextbook and Media List of Accounts Attempts; of used c Prepare the journal entry at commencement of the lease for Carla Vista. Qst all debilt entries before credit entries, Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. Date Account Titles and Explanation Debit Credit
Carla Vista Leasing Company leases a new machine to Sandhill Corporation. The machine has a cost of $ and fair value of $ Under the year, noncancelable contract, Sandhill will receive title to the machine at the end of the lease. The machine has a year useful life and no residual value. The lease was signed on January Carla Vista expects to earn an return on its investment, and this implicit rate is known by Sandhill. The annual rentals are payable on each December beginning December
Click here to view factor tables.
b
Your answer is correct.
Prepare an amortization schedule that would be suitable for both the lessor and the lessee and that covers all the years involved. For calculation purposes, use decimal places as displayed in the factor table provided and round final ansiwers to decimal places eg
Date
Rent Receipt Payment
Interest Revenue
Expense
Reduction of Principal
Receivat
$
$
When
eTextbook and Media
List of Accounts
Attempts; of used
c
Prepare the journal entry at commencement of the lease for Carla Vista. Qst all debilt entries before credit entries, Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts.
Date
Account Titles and Explanation
Debit
Credit
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