Question
Skysong Company leases equipment for 8 years with an annual rental of $2,400 per year or $19,200 in total. General Leasing (the lessor) agrees to
Skysong Company leases equipment for 8 years with an annual rental of $2,400 per year or $19,200 in total. General Leasing (the lessor) agrees to provide Skysong with $200 for the first 2 years of the lease to defray needed repairs to the equipment.
Determine the total lease payments that Skysong will pay for the first 3 years of the lease agreement.
Lease payments
$enter the total lease payments in dollars
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
