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Sandhill Coleased a machine to Dains Co. Assume the lease payments were made on the basis that the residual value was guaranteed and Sandhill gets

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Sandhill Coleased a machine to Dains Co. Assume the lease payments were made on the basis that the residual value was guaranteed and Sandhill gets to recognize all the profits. At the end of the lease term, before the lessee transfers the asset to the fessor, the leased asset and liability accounts have the following balances: Leased equipment $360000 Less accumulated depreciation-capital lease 344400 $ 15600 Interest payable $ 1480 Lease liability 14120 $15600 at the end of the case, the tair value of the residual value is $11400, what can or loss should Dans record? $4200 loss 54200 sal 52720 gain 511400

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