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journal entry: entered into a 5-year lease agreement for equipment requiring payment of $800 at the end of each month for 60 months. The equipment

journal entry:

entered into a 5-year lease agreement for equipment requiring payment of $800 at the end of each month for 60 months. The equipment has an economic life of 6 years with no salvage value. Companys incremental borrowing rate is %6 per year.

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