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On January 1, 2018, Naw Corporation leased a piece of machinery from Hoftherr Machinery, The lease is an 5 year, non-cancellablelease that requires lease payments of $6.000 due at the beginning of each year. The lease has been determined to be a capital (finance) lease because at least one of the classification criteria has been met. Naw Corporation needs to determine the present value of the lease payments so that they can record the asset and the liability at lease inception, Hoffherr Machinery implicit rate of 7% is known to Naw Corporation Complete the following from the perspective of Naw Corporation Which of the fofowie financial statement item is impacted in this trumaction The problem solving loc The calculation involves Table Method X X Accounts Date of Delivery Debit Credit To record the initiallare la To record the listine payment (1) Read the scenario and answer the three questions. (2) Fill in the table with the correct formula, find and enter the factor from the correct table to be used in the formula, then calculate the value the problem is solving for. Factor should be entered including four decimal places. All dollar amounts should be rounded to the nearest whole dollar. (3) Fill out the journal entries. On January 1, 2018, Naw Corporation leased a piece of machinery from Hoftherr Machinery, The lease is an 5 year, non-cancellablelease that requires lease payments of $6.000 due at the beginning of each year. The lease has been determined to be a capital (finance) lease because at least one of the classification criteria has been met. Naw Corporation needs to determine the present value of the lease payments so that they can record the asset and the liability at lease inception, Hoffherr Machinery implicit rate of 7% is known to Naw Corporation Complete the following from the perspective of Naw Corporation Which of the fofowie financial statement item is impacted in this trumaction The problem solving loc The calculation involves Table Method X X Accounts Date of Delivery Debit Credit To record the initiallare la To record the listine payment (1) Read the scenario and answer the three questions. (2) Fill in the table with the correct formula, find and enter the factor from the correct table to be used in the formula, then calculate the value the problem is solving for. Factor should be entered including four decimal places. All dollar amounts should be rounded to the nearest whole dollar. (3) Fill out the journal entries

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