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On January 1, 2019, AXY Corporation signed lease for a machine the present value of the minimum lease payments 41565.The annual payments of OR 9968

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On January 1, 2019, AXY Corporation signed lease for a machine the present value of the minimum lease payments 41565.The annual payments of OR 9968 at the ending of each year, starting 2019. AXY incremental borrowing rate is 10%, and the Lessor's implicit rate is unknown. On the journal entry, with first annual payment in book of the loessor. The credit side is: Select one: a. Lease Receivable and Interest Receivable b. Lease Receivable and Interest revenue c. Lease Receivable and Interest payable d. Lease liability and Interest revenue e. The correct answer not available

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