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Rand Medical manufactures lithotripters. Lithotripsy uses shock waves instead of surgery to eliminate kidney stones. Physiclans Leasing purchased a lithotripter from Rand for $ 1
Rand Medical manufactures lithotripters. Lithotripsy uses shock waves instead of surgery to eliminate kidney stones. Physiclans Leasing purchased a lithotripter from Rand for $ and leased it to MidSouth Urologists Group, Incorporated, on January
Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $
Required:
How should this lease be classified by MidSouth Urologists Group and by Physiclans' Leasing?
Prepare approprlate entrles for both MidSouth Urologists Group and Physiclans' Leasing from the beginning of the lease through the second rental payment on April Adjusting entrles are recorded at the end of each fiscal year December
Assume MidSouth Urologists Group leased the lithotripter directly from the manufacturer, Rand Medical, which produced the machine at a cost of $ milion. Prepare appropriate entries for Rand Medical from the beginning of the lease through the second lease payment on April
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Requined
Rieguingit
Returiad
How should this lase be classified by MidSouth Urologists Gnoup and by Physicians Leasing?
MidScuth Urologists Greup
Physicisns' Leasing
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