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The following facts pertain to a non-cancelable lease agreement between Alschuler Leasing Company and Blossom Electronics, a lessee, for a computer system. The collectibility of
The following facts pertain to a non-cancelable lease agreement between Alschuler Leasing Company and Blossom 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 straight-line depreciation method is used for all equipment. The following amortization schedule has been prepared correctly for use by both the lessor and the lessee in accounting for this lease. The lease is to be accounted for properly as a finance lease by the lessee and as a sales-type lease by the lessor. (4) What items and amounts will appear on the lessee's balance sheet at September 30,2027 ? Balance Sheet (Partial) September 30,2027 Non-current Assets: Right-of-Use Asset Current Liabilities: Lease Liability $166172 Long-term Liabilities: Lease Liability
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