Question
Host Co as a lessor records a sales type lease of machinery on 1/1/19. The 7 annual lease payments of $210,000 are received at the
Host Co as a lessor records a sales type lease of machinery on 1/1/19. The 7 annual lease payments of $210,000 are received at the end of each year. The present value of the lease payments at 10% is $1,022,400.
Prepare a lease amortization schedule from 1/1/19 to 12/31/21.
Prepare the journal entries for Host from 1/1/19 to 12/31/20.
SHOW ALL COMPUTATIONS.
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Financial Accounting
Authors: Libby, Short
6th Edition
978-0071284714, 9780077300333, 71284710, 77300335, 978-0073526881
