lease amount id 67,083.41

Your answer is correct. On January 1, 2020, Martinez Inc. sold computer equipment to Tamarisk Co. The sales price of the equipment was $518,000 and its carrying amount is $412,000. Record any journal entries necessary for Martinez from the sale of the computer equipmentin 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 1/1/20 Cash 518,000 Equipment 412,000 Gain on Disposal of Equipment 106,000 Use the information from parta. Assume that on the same day the sale occurred, Martinez enters into an agreement to lease the equipment from Tamarisk for 10 years with annual lease payments of $ 67,083.41 at the end of each year, beginning on December 31, 2020. If Martinez has an incremental borrowing rate of 5% and the equipment has an economic useful life of 10 years, record any journal entries necessary for Martinez from the sale and leaseback of computer equipment in 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, es 5,275.25. Record Journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit 1/1/20 v Leased Equipment Lease Liability 12/31/20 V tease Liability Interest Expense Cash