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I'D PREFER IF YOU USE EXCEL PLZ Gomez Inc. leases a vehicle from CareMax Inc. on January 1 for a three-year period. Gomez agrees to

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I'D PREFER IF YOU USE EXCEL PLZ

Gomez Inc. leases a vehicle from CareMax Inc. on January 1 for a three-year period. Gomez agrees to make $4,800 annual payments beginning on January 1 . Prepare the journal entries during the year for CareMax Inc. assuming that the fair value of the vehicle is $22,400 and it has a useful life of 6 years with no salvage value (depreciated using the straight-line method). CarMax Inc. appropriately classifies the lease as an operating lease

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