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Scape Corporation manufactures telephony equipment. Scape leased equipment to User, Incorporated on January 1 , 2 0 2 4 . Scape produced the equipment at
Scape Corporation manufactures telephony equipment. Scape leased equipment to User, Incorporated on January Scape produced the equipment at a cost of $ Lease description: Quarterly rental payments $ at beginning of each period Lease term years quarters No residual value; no BPO Economic life of equipment years Implicit interest rate and lessees incremental borrowing rate Fair value of asset $ Required: Prepare appropriate entries for both User and Scape from the beginning of the lease through the second rental payment on April Depreciation and amortization are recorded at the end of each fiscal year December
Scape Corporation manufactures telephony equipment. Scape leased equipment to User, Incorporated on January Scape produced the equipment at a cost of $
Lease description:
Quarterly rental payments $ at beginning of each period
Lease term years quarters
No residual value; no BPO
Economic life of equipment years
Implicit interest rate and lessees incremental borrowing rate
Fair value of asset $
Required:
Prepare appropriate entries for both User and Scape from the beginning of the lease through the second rental payment on April Depreciation and amortization are recorded at the end of each fiscal year December
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