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  3. a co. recorded a right-of-use asset of $400,000 in

A Co. recorded a right-of-use asset of $400,000 in a 10-year operating lease. Payments of...

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Accounting

A Co. recorded a right-of-use asset of $400,000 in a 10-year operating lease. Payments of $65,100 are made annually at the end of each year. The interest rate charged by the lessor was 10%. The balance in the right-of-use asset after the first year will be:

a) 360,000

b) 374,900

c) 376,900

d) 400,000

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