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On 1/1/Y1 Day Corp. entered into a 10 year lease agreement with Ward, Inc. for industrial equipment. Annual lease payment of $10,000 are The present
On 1/1/Y1 Day Corp. entered into a 10 year lease agreement with Ward, Inc. for industrial equipment. Annual lease payment of $10,000 are
| The present value of an ordinary annuity at | ||
| 8% for 10 years is 6.7101 | ||
| 12% for 10 years is 5.6502 | ||
| The present value of $1 at | ||
| 8% for 10 years is 0.4632 | ||
| 12% for 10 years is 0.3220 | ||
Prepare the 12/31/Y1 JE on Days books to record the first annual lease payment
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