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The following facts pertain to a non-cancelable lease agreement between Crane Leasing Company and Blossom Company, a lessee. The asset will revert to the lessor
The following facts pertain to a non-cancelable lease agreement between Crane Leasing Company and Blossom Company, a lessee. The asset will revert to the lessor at the end of the lease term. The lessee uses the straight-line amortization for all leased equipment. Click here to view factor tables. Prepare an amortization schedule that would be suitable for the lessee for the lease term. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answers to 0 decimal places e.g. 5,275.)
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