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Exercise 3: On 2 January 2014 Tokyo Co. lease large equipment from China Co. for four year at annual rent $70000, in addition with

Exercise 3: On 2 January 2014 Tokyo Co. lease large equipment from China Co. for four year at annual rent ( $ 70000 ), in

Exercise 3: On 2 January 2014 Tokyo Co. lease large equipment from China Co. for four year at annual rent $70000, in addition with rent Tokyo Co. pay annual executor $6500. Both Co. classified this agreement is an operating lease. Required: Records the journal entries in book of Tokyo Co.

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