Question
On 4/3/19, Zauderer Academy leased equipment for $10,000 per year for eight years at an interest rate of 12%, with the first lease payment due
On 4/3/19, Zauderer Academy leased equipment for $10,000 per year for eight years at an interest rate of 12%, with the first lease payment due on 4/3/20. The lease is treated as a capital lease. Prepare the journal entry for 4/3/19:
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Intermediate Accounting Reporting And Analysis, 2017 Update
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
2nd Edition
1337505625, 9781337505628
