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Red Co. recorded a right-of-use asset of $130,000 in a 10-yearType A lease. Payments of...

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Accounting

Red Co. recorded a right-of-use asset of $130,000 in a 10-yearType A lease. Payments of $21,157 are made annually at the end of each year. The interest rate charged by the lessor was 10%. Under the new ASU, the balance in the lease payable after two years will be: $80,000. $112,870. $157,300. $151,191.

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