4. On January 1, 2022, Wilson Co. leases equipment to Nice Inc. The lease term...
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4. On January 1, 2022, Wilson Co. leases equipment to Nice Inc. The lease term is 48 months, and the rent payment will be $1,800 per month. Wilson (lessor) classifies it as an operating leas Wilson offers a 6-month rent-holiday. Thus, Nice does not need to make any rent payments for the first 6 months. The first monthly rent at $1,800 will be paid at the beginning of 7th month. Wilson should recognize rent revenue from this lease arrangement for the first quarter on 3/31/2022 at a. $6,075. b. $5,400. c. $4,725. d. $0
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