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Pharoah Corporation manufactures drones. On December 3 1 , 2 0 2 4 , it leased to Althaus Company a drone that had cost $
Pharoah Corporation manufactures drones. On December it leased to Althaus Company a drone that had cost $ to
manufacture The lease agreement covers the year useful life of the drone and requires five equal annual rentals of $ payable
each December beginning December An interest rate of is implicit in the lease agreement. Collectibility of the rentals
is not probable.
Prepare any journal entry for Pharoah on December List debit entry before credit entry. If no entry is required, select No Entry"
for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent
manually.
Credit
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