Question
On January 1, 2021, Ran Fitness Inc. leased exercise equipment to Crunch Inc. The lease term is 2 years. Payments of $16,500 are made at
On January 1, 2021, Ran Fitness Inc. leased exercise equipment to Crunch Inc. The lease term is 2 years. Payments of $16,500 are made at the beginning of every quarter for 2 years. The economic life of the equipment is also 2 years. The fair value of the equipment is $125,370. The implicit annual interest rate in the lease is 6%.
How much interest expense is recorded on April 1, 2021
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Corporate Environmental Reporting The Western Approach To Nature
Authors: Leanne J Morrison
1st Edition
0367785455, 9780367785451
