Required 1)PV of the Minmum lease payment computation 2)the journal entries for the three years and the effects on the financial statements ( initial recognition and subsequent recognition depreciation interest liability

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le 7.2: Accounting Treatment by Lessee Bhd. leases a piece of equipment from Awoks Bhd. on Saiyer 1 January2 . The lease term is for three years and is non-cancelable , Saiyer Bhd. is to make annual payments of RM30,000 beginning 1 January 2015 At the end of the lease, the equipment is required to be returned to Awoks Bhd. 2015. The lease arrangements are as follows ' The equipment has a fair value of RM100,000 and an estimated economic life of five years. The implicit rate of the lease is 10%. Required