Prepare all necessary journal entries for Oriole for 2020. (Credit account tilles are automotically indented when amount is entered. Do not indent manually. Round answers to Odecimal places eg. 5,275.) Suppose the collectibility of the lease payments was not probable for Oriole. Prepare the necessary journal entry for the company in 2020. (Credit account titles are dutomatically indented when omount is entered. Do not indent manually) eTextbook and Media List of Accounts Attempts: 0 of 3 used (d) The parts of this question must be completed in order. This part will be available when you complete the part above Oriole Company, a machinery dealer, leased a machine to Dexter Corporation on January 1,2020. The lease is for an 8 -year period and requires equal annual payments of $29,473 at the beginning of each year. The first payment is received on January 1, 2020. Oriole had purchased the machine during 2019 for $114,000. Collectibility of lease payments by Oriole is probable. Oriole set the annual rental to ensure a 6% rate of return. The machine has an economic life of 10 years with no residual value and reverts to Oriole at the termination of the lease. Click here to view factor tables. (a) Compute the amount of the lease receivable. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to 0 decimal places es. 5,275.) Amount of the lease receivable Prepare all necessary journal entries for Oriole for 2020. (Credit account tilles are automotically indented when amount is entered. Do not indent manually. Round answers to Odecimal places eg. 5,275.) Suppose the collectibility of the lease payments was not probable for Oriole. Prepare the necessary journal entry for the company in 2020. (Credit account titles are dutomatically indented when omount is entered. Do not indent manually) eTextbook and Media List of Accounts Attempts: 0 of 3 used (d) The parts of this question must be completed in order. This part will be available when you complete the part above Oriole Company, a machinery dealer, leased a machine to Dexter Corporation on January 1,2020. The lease is for an 8 -year period and requires equal annual payments of $29,473 at the beginning of each year. The first payment is received on January 1, 2020. Oriole had purchased the machine during 2019 for $114,000. Collectibility of lease payments by Oriole is probable. Oriole set the annual rental to ensure a 6% rate of return. The machine has an economic life of 10 years with no residual value and reverts to Oriole at the termination of the lease. Click here to view factor tables. (a) Compute the amount of the lease receivable. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to 0 decimal places es. 5,275.) Amount of the lease receivable
