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Will Inc. leased an office equipment on September 30, 2021. The five-year finance lease agreement calls for Will to make quarterly lease payments of $195,774,
Will Inc. leased an office equipment on September 30, 2021. The five-year finance lease agreement calls for Will to make quarterly lease payments of $195,774, payable each September 30, December 31, March 31, June 30, with the first payment at September 30, 2021. Will's incremental borrowing rate is 12%. Wilson recorded the lease as follows: September 30, 2021 Right-of-use asset Lease payable 3,000,000 3,000,000 Lease payable Cash (first payment) 195,774 195,774 What will Will's statement of cash flows show for the year ended on December 31, 2021? $3,000,000 will not show anywhere in the statement of cash flows. a. C. ob.$3,000,000 will show as an inflow in investing activities and an outflow in financing activities $3,000,000 will only show as an outflow in financing activities d. $3,000,000 will only show as an inflow in investing activities $3,000,000 will show under noncash investing and financing activities e
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