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Cyberdyne Systems began leasing computer servers with an eight-year term on January 1, 2020. The...

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Accounting

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Cyberdyne Systems began leasing computer servers with an eight-year term on January 1, 2020. The lease has an implicit rate of 6% and requires eight equal payments of $15,000. The first is paid on the date the lease is signed and the remaining seven payments are to be paid on December 31 of each year, beginning in 2020. Which of the following will be included in the journal entry that Cyberdyne Systems will make to record the lease payment on December 31, 2020: Select one: a. Credit to interest expense of $5,004.87 b. Debit to lease liability of $15,000.00 c. Credit to lease liability of $9,975.86 d. Debit to interest expense of $5,024.14

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