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Karla Salons leased equipment from SmithCo on January 1, 2021, in an operating lease. The present value of the lease payments discounted at 10% was
Karla Salons leased equipment from SmithCo on January 1, 2021, in an operating lease. The present value of the lease payments discounted at 10% was $160,000. Ten annual lease payments of $24,000 are due each January 1, beginning January 1, 2021. The amortization of the right-of-use asset in 2021 would be: Select one: a. $ 16,000 b. $ 10,400 c. $ 24,000 d. $ 13,600
Karla Salons leased equipment from SmithCo on January 1, 2021, in an operating lease. The present value of the lease payments discounted at 10% was $160,000. Ten annual lease payments of $24,000 are due each January 1, beginning January 1, 2021. The amortization of the right-of-use asset in 2021 would be:
Select one:
a. $ 16,000
b. $ 10,400
c. $ 24,000
d. $ 13,600
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