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Reporting a Finance Lease equipment under lease had an estimated five-year useful life with no residual value. The first lease payment of $34,844 was due
Reporting a Finance Lease equipment under lease had an estimated five-year useful life with no residual value. The first lease payment of $34,844 was due upon commencement of the lease. Show the balance sheet presentation on December 31 and the income statement presentation for the year ended December 31. - Note: Round your answers to the nearest whole dollar. - Note: Do not use negative signs with your answers
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