On January 1, 2018, Gibson Corporation entered into a four-year operating lease. The payments were as follows: $23,000 for 2018, $18,500 for 2019, $17,500 for
On January 1, 2018, Gibson Corporation entered into a four-year operating lease. The payments were as follows: $23,000 for 2018, $18,500 for 2019, $17,500 for 2020, and $14,000 for 2021. What is the correct amount of total lease expense for 2019?
Multiple Choice
$18,500.
$23,000.
$20,750.
$18,250.
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Authors: David Marshall, Wayne McManus, Daniel Viele
8th Edition
0073379417, 978-0073379418
