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Prepare the appropriate entries for both the lessee and lessor related to the lease on January 1 , 2 0 2 4 . Prepare the
Prepare the appropriate entries for both the lessee and lessor related to the lease on January Prepare the appropriate entries for both the lessee and lessor related to the lease on December Answer is not complete. Complete this question by entering your answers in the tabs below. Required Prepare the appropriate entries for both the lessee and lessor related to the lease on December Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Round your intermediate and final answers to nearest whole dollar.On January Lesco Leasing leased equipment to Quality Services under a financesalestype lease designed to earn Lesco a rate of return for providing longterm financing. The lease agreement specified: Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $ Ten annual payments of $ beginning January the beginning of the lease and each December thereafter through The estimated useful life of the leased equipment is years with no residual value. Its cost to Lesco was $ The lease qualifies as a finance leasesalestype lease. A year service agreement with Quality Maintenance Company was negotiated to provide maintenance of the equipment as required. Payments of $ per year are specified, beginning January Lesco was to pay this cost as incurred, but lease payments reflect this expenditure. Also included in the $ payments is an insurance premium of $ providing coverage for the equipment. Required: Prepare the appropriate entries for both the lessee and lessor related to the lease on January Prepare the appropriate entries for both the lessee and lessor related to the lease on December
Prepare the appropriate entries for both the lessee and lessor related to the lease on January
Prepare the appropriate entries for both the lessee and lessor related to the lease on December
Answer is not complete.
Complete this question by entering your answers in the tabs below.
Required
Prepare the appropriate entries for both the lessee and lessor related to the lease on December
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Round your
intermediate and final answers to nearest whole dollar.On January Lesco Leasing leased equipment to Quality Services under a financesalestype lease designed to earn Lesco a rate of return for providing longterm financing. The lease agreement specified:
Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $
Ten annual payments of $ beginning January the beginning of the lease and each December thereafter through
The estimated useful life of the leased equipment is years with no residual value. Its cost to Lesco was $
The lease qualifies as a finance leasesalestype lease.
A year service agreement with Quality Maintenance Company was negotiated to provide maintenance of the equipment as required. Payments of $ per year are specified, beginning January Lesco was to pay this cost as incurred, but lease payments reflect this expenditure. Also included in the $ payments is an insurance premium of $ providing coverage for the equipment.
Required:
Prepare the appropriate entries for both the lessee and lessor related to the lease on January
Prepare the appropriate entries for both the lessee and lessor related to the lease on December
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