The following relate to an operating lease agreement: a. The lease term is 3 years,...
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Accounting
The following relate to an operating lease agreement: a. The lease term is 3 years, beginning January 1, 2018 b. The leased asset cost the lessor $930,000 and had a useful life of eight years with no residual value. The lessor uses straight-line 10 points depreciation for its depreciable assets. c. Annual lease payments at the beginning of each year were $142,500. d. Incremental costs of negotiating costs of negotiating and consummating the completed lease transaction incurred by the lessor were $4,350 Required Prepare the appropriate entries for the lessor from the beginning of the lease through the end of the lease term. (Round your intermediate and final answers to the nearest whole dollar amount. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) s Print Journal entry worksheet 13 01, 2018
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