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Chance Enterprises leased equipment from Third Bank Leasing on January 1 , 2 0 2 4 . Chance elected the short - term lease option.

Chance Enterprises leased equipment from Third Bank Leasing on January

1, 2024 .

Chance elected the short

-

term lease option. Appropriate adjusting entries are made annually.

\

table

[[

Related Information:,

1

years

(12

monthly periods

)], [

Lease term,$

48, 000

on January

1, 2024,

through December

1, 2024 .], [

Monthly lease payments,

5

years

], [

Economic life of asset,

9 %

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