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The following facts pertain to a non-cancelable lease agreement between Alschuler Leasing Company and Flounder Electronics, a lessee, for a computer system. The collectibility of

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The following facts pertain to a non-cancelable lease agreement between Alschuler Leasing Company and Flounder Electronics, a lessee, for a computer system. The collectibility of the lease payments is probable by the lessor. The asset will revert to the lessor at the end of the lease term. The stratght-line depreciaton method is used for all equipment. The following amortization schedule has been prepared correcthy for use by both the lessor and the lessee in accounting for this fease. The lease is to be accounted for properly as a finance lease by the lessee and as a sales type lease by the lessor. The lease is to be accounted for properly as a finance lease by the lessee and as a sales-type lease by the lessor. Assuming the lessee's accounting period ends on September 30 , answer the following questions with respect to this lease agreement. (Round answers to 0 decimal ploces e.s. 58,971.) (1) What items and amounts will appear on the lessee's income statement for the year ending September 30,2021 ? (2) What items and amounts will appear on the lessee's balance sheet at September 30,2021 ? (4) What items and amounts will appear on the lessee's balance sheet at September 30,2022

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