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September 30, 2021, the company leased a delivery truck to a local florist, Anything Grows. The fiscal year for both companies ends December 31 .

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September 30, 2021, the company leased a delivery truck to a local florist, Anything Grows. The fiscal year for both companies ends December 31 . The lease agreement specified quarterly payments of $3,300 beginning September 30,2021 , the beginning of the lease, and each quarter (December 31, March 31, and June 30) through June 30, 2024 (three-year lease term). The florist had the option to purchase the truck on September 29, 2023, for $6,600 when it was expected to have a residual value of $10,900. The estimated useful life of the truck is four years. Mid-South Auto Leasing's quarterly interest rote for determining payments was 3% (opproximately 12% annually) Mid-South paid $27,520 for the truck. Both companies use straight-line depreciation or amortization. Anything Grows' incremental interest rate is 12% Prepare the appropilate entries for Anything Grows and Mid-South on September 29, 2023, assuming the purchase option was exercised on that date. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate and final answers to nearest whole dollar.)

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