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Deal Leasing leased equipment to Hand Company on January 1 , 2 0 2 4 . The lease payments were calculated to provide the lessor
Deal Leasing leased equipment to Hand Company on January The lease payments were calculated to provide the lessor a return. Eight annual lease payments of $ are due at the beginning of each year beginning January The present value of an annuity due of $ at for eight periods is
Required:
Consider this to be a finance lease.
Prepare the journal entries to record the lease by Hand lessee on January
Prepare the journal entries to record the lease by Hand lessee on December the end of the first reporting period.
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