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Macroware Corporation reported the following disclosure note in its 2020 financial statements: Note 14 LEASES (in part) Supplemental cash flow information related to leases was
Macroware Corporation reported the following disclosure note in its 2020 financial statements: Note 14 LEASES (in part) Supplemental cash flow information related to leases was as follows: (In millions) Fiscal Year Ended June 30, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,838 Operating cash flows from finance leases 345 Financing cash flows from finance leases 418 Required: Prepare a journal entry that summarizes the cash payments for operating leases during the year. Prepare a journal entry that summarizes the cash payments for finance leases during the year
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