Tucson Fruits leased farm equipment from Barr Machinery on July 1,2016. The lease was recorded...
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Tucson Fruits leased farm equipment from Barr Machinery on July The lease was recorded as a salestype lease. The present value of the lease payments discounted at was $ million. Ten annual lease payments of $ million are due at the beginning of each year beginning July Barr had purchased the equipment for $ million. What amount of interest revenue from the lease should Barr report in its income statement? A $ B $ C $ D $
Tucson Fruits leased farm equipment from Barr Machinery on July The lease was recorded as a salestype lease. The present value of the lease payments discounted at was $ million. Ten annual lease payments of $ million are due at the beginning of each year beginning July Barr had purchased the equipment for $ million. What amount of interest revenue from the lease should Barr report in its income statement?
A $
B $
C $
D $
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