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Complete this question by entering your answers in the tabs below. Req 1 and 2 The company can purchase the equipment by borrowing $ 2
Complete this question by entering your answers in the tabs below.
Req and
The company can purchase the equipment by borrowing $ with a month, installment note. Payments of $ are due at the end of each month, and the first installment is due on January Record the issuance of the installment note payable for the purchase of the equipment.
The company can sign a month lease for the equipment by agreeing to pay $ at the end of each month, beginning January At the end of the lease, the equipment must be returned. Assuming a borrowing rate of record the lease.
If no entry is required for a particular transactionevent select No Journal Entry Required" in the first account field.
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Journal entry worksheet
The company can sign a month lease for the equipment by agreeing to pay $ at the end of each month, beginning January At the end of the lease, the equipment must be returned. Assuming a borrowing rate of record the lease.
Note: Enter debits before credits.
tableDateGeneral Journal,Debit,CreditJanuary Lease Asset,,Lease Payable,,
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