Lopez Plastics Co. makes $3,300 payments every month for leasing office equipment. Lopez recorded a...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Lopez Plastics Co. makes $3,300 payments every month for leasing office equipment. Lopez recorded a lease payment as follows:
DR CR
Lease payable 1,980
Interest expense 1,320
Cash 3,300
Amortization expense 1,980
Right-of-use asset 1,980
Lasch must have a(n):
Multiple Choice
A. Operating lease.
B. Sales-type lease without selling profit.
C. Leveraged lease.
D. Finance lease.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.