Exercise 9-9 (Algo) Compare installment notes and leases (LO9-2, 9-3) Janusry 1, 2024, Poradise Partners decides to upgrade recreational equipment ot its resorts, The compony is contemplating whether 1 purchase or lease the new equipment. Use PV of \$1 and PVA of S1, (Use oppropriate foctor(s) from the tables provided.) Required: 1. The company can purchose the equipment by borrowing $263,000 with a 30 -month, 12% installment note. Poyments of $10,19075 are due at the end of each month, and the first instaliment is due on January 31, 2024. Record the issuence of the installment note poyoble for the purchase of the equipment. 2. The company can sign a 30-month lease for the equipment by agreeing to pay $7,865,87 at the end of each month, beginining January 31, 2024. At the end of the lease, the equipment must be retumed. Assuming a borrowing rate of 12%, record the lease. 3. As of January 1, 2024, does the instaliment note or the lease hove a greater effect on inereasing the compony's amount of reported debt, and by how much? 4. Suppose the equipment has a total value of $123,000 ot the end of the 30-month period, which option (purchasing with instaliment note or lessing) would likely be better? Complete this question by entering your answers in the tabs below. 1. The company can purchase the equipment by borrowing $263,000 with a 30 - month, 12% installment note. Payments of $10,190.75 are due at the end of each month, and the first installiment is due on January 31,2024 . Record the issuance of the installment note bayabie for the nurchase of the equipment. 2. The company can sign a 30 -month lease for the equipment by agreeing to pay $7,865.87 at the end of each month, beginning 3anuary 31, 2024, At the end of the lease, the equipment must be returned. Assuming a borrowing rate of 12%, recond the lease(it no entry is required for a particular transactionfevent, select "No Journal Entry Renduired" in the Arst account field.) Show less Journal entry worksheet The company can purchase the equipment by borrowing $263,000 with a 30 month, 12% installment note. Payments of $10,190.75 are due of the and of each month, and the first installiment is due on January 31,2024 . Record the issuance of the installiment note pavable for the purchase of the equipment. fider fenter debors before crectas. Complete this question by entering your answers in the tabs below. As of Janvary 1, 2024, does the instaliment note or the lease have a greater effect on increasing the company's amount of reported debt, and by how much? (Round other intermediate and final answers to the nearest whole dollar amount.) Exercise 9-9 (Algo) Compare installment notes and leases (LO9-2, 9-3) Jonuary 1, 2024, Paradise Partners decides to upgrade recreational equipment at its resorts. The compony is contemplating whether to purchase or lease the new equipment. Use PV of $1 and PVA of \$1. (Use oppropriate foctor(s) from the tables provided.) Required: 1. The company can purchase the equipment by borrowing $263,000 with a 30 -month, 12% instoliment note. Payments of $10,19075 are due ot the end of each month, and the first installment is due on Januery 31,2024. Record the issuance of the installment note payable for the purchase of the equipment. 2. The company can sign a 30 -month lease for the equipment by agreeing to pay $7,865.87 at the end of each month, beginning January 31, 2024. At the end of the lease, the equipment must be returned. Assuming o borrowing rate of 12%, record the lease. 3. As of January 1,2024 , does the instaliment note or the lease have a greater effect on increasing the compony's amount of reported debt, and by how much? 4. Suppose the equipment has a total value of $123,000 at the end of the 30 -month period, which option (purchasing with installment note or leasing) would likely be better? Complete this question by entering your answers in the tabs below. Suppose the equipment has a total value of $123,000 at the end of the 30 -month period, which option (purchasing with installiment note or leasing) would likely be better? Exercise 9-9 (Algo) Compare installment notes and leases (LO9-2, 9-3) Janusry 1, 2024, Poradise Partners decides to upgrade recreational equipment ot its resorts, The compony is contemplating whether 1 purchase or lease the new equipment. Use PV of \$1 and PVA of S1, (Use oppropriate foctor(s) from the tables provided.) Required: 1. The company can purchose the equipment by borrowing $263,000 with a 30 -month, 12% installment note. Poyments of $10,19075 are due at the end of each month, and the first instaliment is due on January 31, 2024. Record the issuence of the installment note poyoble for the purchase of the equipment. 2. The company can sign a 30-month lease for the equipment by agreeing to pay $7,865,87 at the end of each month, beginining January 31, 2024. At the end of the lease, the equipment must be retumed. Assuming a borrowing rate of 12%, record the lease. 3. As of January 1, 2024, does the instaliment note or the lease hove a greater effect on inereasing the compony's amount of reported debt, and by how much? 4. Suppose the equipment has a total value of $123,000 ot the end of the 30-month period, which option (purchasing with instaliment note or lessing) would likely be better? Complete this question by entering your answers in the tabs below. 1. The company can purchase the equipment by borrowing $263,000 with a 30 - month, 12% installment note. Payments of $10,190.75 are due at the end of each month, and the first installiment is due on January 31,2024 . Record the issuance of the installment note bayabie for the nurchase of the equipment. 2. The company can sign a 30 -month lease for the equipment by agreeing to pay $7,865.87 at the end of each month, beginning 3anuary 31, 2024, At the end of the lease, the equipment must be returned. Assuming a borrowing rate of 12%, recond the lease(it no entry is required for a particular transactionfevent, select "No Journal Entry Renduired" in the Arst account field.) Show less Journal entry worksheet The company can purchase the equipment by borrowing $263,000 with a 30 month, 12% installment note. Payments of $10,190.75 are due of the and of each month, and the first installiment is due on January 31,2024 . Record the issuance of the installiment note pavable for the purchase of the equipment. fider fenter debors before crectas. Complete this question by entering your answers in the tabs below. As of Janvary 1, 2024, does the instaliment note or the lease have a greater effect on increasing the company's amount of reported debt, and by how much? (Round other intermediate and final answers to the nearest whole dollar amount.) Exercise 9-9 (Algo) Compare installment notes and leases (LO9-2, 9-3) Jonuary 1, 2024, Paradise Partners decides to upgrade recreational equipment at its resorts. The compony is contemplating whether to purchase or lease the new equipment. Use PV of $1 and PVA of \$1. (Use oppropriate foctor(s) from the tables provided.) Required: 1. The company can purchase the equipment by borrowing $263,000 with a 30 -month, 12% instoliment note. Payments of $10,19075 are due ot the end of each month, and the first installment is due on Januery 31,2024. Record the issuance of the installment note payable for the purchase of the equipment. 2. The company can sign a 30 -month lease for the equipment by agreeing to pay $7,865.87 at the end of each month, beginning January 31, 2024. At the end of the lease, the equipment must be returned. Assuming o borrowing rate of 12%, record the lease. 3. As of January 1,2024 , does the instaliment note or the lease have a greater effect on increasing the compony's amount of reported debt, and by how much? 4. Suppose the equipment has a total value of $123,000 at the end of the 30 -month period, which option (purchasing with installment note or leasing) would likely be better? Complete this question by entering your answers in the tabs below. Suppose the equipment has a total value of $123,000 at the end of the 30 -month period, which option (purchasing with installiment note or leasing) would likely be better