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Please finish the question: (01- #7) Now, Please finish these Journal entries below: The following facts pertain to a non-cancelable lease agreement between Splish Brothers
Please finish the question: (01- #7)
Now, Please finish these Journal entries below:
The following facts pertain to a non-cancelable lease agreement between Splish Brothers Leasing Company and Sunland Company, a lessee. The collectibility of the lease payments by Splish Brothers is probable. Compute the amount of the lease receivable at commencement of the lease. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round answer to 2 decimal places, e.g. 5,275.15.) Lease receivable at commencement $ Your answer is correct. SPLISH BROTHERS LEASING COMPANY (Lessor) Lease Amortization Schedule 19,621.6976978.28 16,542.5660435.72 17,204.2643231.46 1 (To record the lease) (To record lease payment) Lease Receivable \begin{tabular}{|r|} \hline 16.542 .56 \\ \hline \end{tabular} Interest Receivable Interest Revenue \begin{tabular}{|r|} \hline 2052.75 \\ \hline 1,026.38 \\ \hline \end{tabular}Step by Step Solution
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