Help Save & Southwestern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2018....
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Help Save & Southwestern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2018. Hi-Tech manufactured the equipment at a cost of $92,500 Lease term 4 year $45,000 on January 1 each Annual paynmentsyear Lite of asset 4 years Fair value of aset 165,285 Implicit interest rate 6% Incremental rate There is no expected residual value. Required Prepare appropriate journal entries for Hi-Tech Leasing for 2018. Assume a December 31 year-end. (If no entry is required for transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dolilar amounts.) View transaction list Journal entry worksheet Prey3 of 27 Next o search 8 46 144 3 4 5 6 7 8
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