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Travel Adventures, Inc. leases its buses. On January 1, 2020, Travel Adventures entered into a lease agreement for 20 buses. This lease agreement covers the

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Travel Adventures, Inc. leases its buses. On January 1, 2020, Travel Adventures entered into a lease agreement for 20 buses. This lease agreement covers the 20 buses. The lease goes until December 31, 2023. The annual payment, to be made at the end of each year, is $500,000. The interest rate is 6%. Assume this is a finance lease Use a Financial Calculator or Excel-and show the inputs that you are using for the calculation A. What is present value of the lease liability? Please show your calculations in an organized way. Annual Payment = $500,000 Number of years = 45. Interest Rate 6% B. Complete the amortization table (use this table or prepare your own) Date Annual Payment Amortization Table Interest Expense Decrease in Lease Liability Book Value 1-1-2020 12-31-2020 12-31-2021 12-31-2022 12-31-2023 Totals C. Show all the journal entries for 2020. If additional calculations are needed, please show those. D. Show all the journal entries for 2023. If additional calculations are needed, please show those

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