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Business, 25.10.2019 18:43 guzmangisselle

The city of morehead leased equipment. the life of the noncancellable lease is 10 years. using an 8 percent interest rate, the present value of the lease payments is $905,861. the first payment of $125,000 is due when the lease begins, january 10, 2017. an additional payment of $125,000 is due on january 10th for each of the next 9 years. prepare journal entries to record:

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The city of morehead leased equipment. the life of the noncancellable lease is 10 years. using an 8...

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