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VI - Capital lease amortization and journal entries ( 1 0 points ) ey Co . as lessee records a capital lease of machinery on
VICapital lease amortization and journal entries points
ey Co as lessee records a capital lease of machinery on January The seven annual lease ents of $ are made at the end of each year. The present value of the lease payments at is $ Hughey uses the effectiveinterest method of amortization and sumoftheyears'digits depreciation no residual value
Instructions Round to the nearest dollar.
a Prepare an amortization table for and
b Prepare all of Hughey's journal entries for
SltutlH
a
Solution
b
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