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Eastern Edison Company leased equipment from Low-Tech Leasing on January 1, 2016. Low-Tech purchased the equipment at a cost of $347, 655. There is no
Eastern Edison Company leased equipment from Low-Tech Leasing on January 1, 2016. Low-Tech purchased the equipment at a cost of $347, 655. There is no expected residual value. Prepare appropriate journal entries for Low-Tech Leasing for 2016. Assume a December 31 year-end
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