Culver Equipment Leasing Company leased equipment to Oriole Healthcare System on January 1 , 2 0 2
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Culver Equipment Leasing Company leased equipment to Oriole Healthcare System on January for a fouryear period. Equal annual payments under the lease are $ and are due on January of each year. The first payment was made on January The implicit rate of interest contemplated by Culver Equipment Leasing and known to Oriole Healthcare is Oriole's incremental borrowing rate is The cost of the equipment on Culver Equipment Leasing accounting records was $ Assuming that the lease is appropriately recorded as an operating lease, on January of each year when the payment is received and recorded by Culver Equipment Leasing Company as a debit to Cash, there would also be a:
tablePV Annuity Due,PV Ordinary Annuity,PV Single Sum periods, periods,
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