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Phelps Swimming leases a delivery truck from Ryder Trucks by signing a 5-year lease with an annual payment of $3,256 due at the end of
Phelps Swimming leases a delivery truck from Ryder Trucks by signing a 5-year lease with an annual payment of $3,256 due at the end of each year, based on 8% interest. The present value of the lease payments is $13,000. Create an amortization table showing six columns: Year Beginning-year lease liability Interest Payment Principal repayment Ending-year lease liability
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