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Part VII: Finance Leases (16 points) Scenic Vistas Tours, Inc. leases its buses. On January 1, 2021, Scenic entered into a lease agreement for 10
Part VII: Finance Leases (16 points) Scenic Vistas Tours, Inc. leases its buses. On January 1, 2021, Scenic entered into a lease agreement for 10 buses. This lease agreement covers the 10 buses. The lease goes until December 31, 2024. The annual payment, to be made at the end of each year, is $500,000. The interest rate is 5%. Assume this is a finance lease. Use a Financial Calculator or Exceland show the inputs that you are using for the calculation C. Show all the journal entries for 2021. If additional calculations are needed, please show those. D. Show all the journal entries for 2024. If additional calculations are needed, please show those
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