Question 29 "5 points) Bells, Inc. leased equipment to JBC Co. on Jan 1, 2020, for 10 years. Equal annual payments of $245,375 are due on January 1 of each year, with the first payment made this year. The interest rate on the lease is 9%. The sales price of the equipment is uually 51,558,000 and it cost Bells, Inc. $1,246,000. If Bells, Inc. classified the lease as sales-type, how much sales and interest revenue can the company report in 2020? (10 209" "So in sales revenue and $118,136 in interest revenue." "$0 in sales revenue and $245,375 in interest revenue." "$312,000 in sales revenue and $118,136 in interest revenue." $312,000 in sales revenue and $140,220 in interest revenue. points Question 30 "(5 points) On January 1, 2020, GGS Corp. signed a 10 year lease on an asset with a 15 year economic life. The lease doesn't transfer ownership or have a BPO. If the lease payments had an initial present value of $1,637,381 and GGS Corp.'s incremental interest rate is 7%, how much amortization expense will the company recognize on its 2020 income statement from this finance lease? (10 20 & 22)" $217,875" 20 "$ 163,738 "$109,159