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i have 30 minutes to complete my assignment so please do fast . i will like ur answer if u did it correctly. Amit purchased
i have 30 minutes to complete my assignment so please do fast . i will like ur answer if u did it correctly.
Amit purchased a computer for 44,000 and leased out it to Sumit for four years on leases basis, after the lease period, value of the computer was estimated to be 3,000; whichhe realized after selling it in the second hand market. Lease amount payable at the beginning of each year is 322,000; 513,640; 36,820 & 23,410. Depreciation was charged @ 40% p.a. You are required to pass the necessary journal entries in the books of both Amit and SumitStep by Step Solution
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