American Food Services, Incorporated leased a packaging machine from Barton and Barton Corporation. Barton and...
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American Food Services, Incorporated leased a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January The lease agreement for the $ million fair value and present value of the lease payments machine specified four equal payments at the end of each year. The useful life of the machine was expected to be four years with no residual value. Barton and Barton's implicit interest rate was Note: Use tables, Excel, or a financlal calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $ Requlred: Prepare the journal entry for American Food Services at the beginning of the lease on January Prepare an amortization schedule for the fouryear term of the lease. & Prepare the appropriate entries related to the lease on December and Answer is not complete. Complete this question by entering your answers in the tabs below. Req and Prepare an amortization schedule for the fouryear term of the lease. Note: Enter your answers in whole dollars and not in millions. Round your intermediate and final answers to the nearest whole dollar: 
American Food Services, Incorporated leased a packaging machine from Barton and Barton Corporation. Barton and Barton
completed construction of the machine on January The lease agreement for the $ million fair value and present value of the
lease payments machine specified four equal payments at the end of each year. The useful life of the machine was expected to be
four years with no residual value. Barton and Barton's implicit interest rate was
Note: Use tables, Excel, or a financlal calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $
Requlred:
Prepare the journal entry for American Food Services at the beginning of the lease on January
Prepare an amortization schedule for the fouryear term of the lease.
& Prepare the appropriate entries related to the lease on December and
Answer is not complete.
Complete this question by entering your answers in the tabs below.
Req and
Prepare an amortization schedule for the fouryear term of the lease.
Note: Enter your answers in whole dollars and not in millions. Round your intermediate and final answers to the nearest whole
dollar:
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