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On February 1, 2021, Arial Corp. leased a piece of equipment from Roman Inc. to use in their factory. Roman Inc. purchased the equipment from
On February 1, 2021, Arial Corp. leased a piece of equipment from Roman Inc. to use in their factory. Roman Inc. purchased the equipment from the Calibri Bros. Company at a cost of $500,000. The annual lease payments of $105,000 includes $5,000, which Roman will use to pay an annual maintenance fee. Arial will begin making the annual lease payments on February 1, 2021. What entry will Arial make to record this first payment? O Lease payable 105,000 Cash 105,000 O Cash 105,000 Lease receivable 100,000 Maintenance fee payable 5.000 Maintenance cynense 5000 O Lease payable 105,000 Cash 105,000 O Cash 105,000 100,000 Lease receivable Maintenance fee payable 5,000 O Maintenance expense 5.000 Lease payable 100,000 Cash 105,000 O Maintenance fee payable 5,000 Lease payable 5.000
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