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[ The following information applies to the questions displayed below. ] Thrillville has $ 3 9 million in bonds payable. One of the contractual agreements

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[The following information applies to the questions displayed below.]
Thrillville has $39 million in bonds payable. One of the contractual agreements in the bond is that the debt to equity ratio cannot exceed 2.0. Thrillville's total assets are $79 million, and its liabilities other than the bonds payable are $9 million. The company is considering some additional financing through leasing.
3. The company enters a lease agreement requiring lease payments with a present value of $14.0 million. Record the lease. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answer in millions (i.e., $5,500,000 should be entered as 5.5) rounded to 1 decimal place.)
Journal entry worksheet
1
The company enters a lease agreement requiring lease payments with a present value of $14.0 million. Record the lease.
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