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Intermediate Financial Accounting II(1) 4 Back to '6/12-12/12 3 Question 1 Not yet answered Sur Food Corp., leased machine from AL-Shrouq Corp. the lease agreement for the OR 1,600,000 (fair and present value of the lease payment) machine specified four equal payments at the end of each year. The implicit interest rate was 9% Required: Marked out of 5.00 P Flag question 1. Prepare the journal entry four Muscat Corp. at the inception of the lease on January 1, 2020 2. Prepare an amortization schedule for the four-year term of the lease Present value of an ordinary annuity of $1:n=4,i=9% is 3.23972 T: A- U S X2 x I! III a ON W Ps |