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Business, 15.11.2019 05:31 lele2010

Afinance lease agreement calls for quarterly lease payments of $5,376 over a 10-year lease term, with the first payment on july 1, the beginning of the lease. the annual interest rate is 8%. both the present value of the lease payments and the cost of the asset to the lessor are $150,000.

required:
a. prepare a partial amortization table up to the october 1 payment.
b. what would be the amount of interest expense (revenue) the lessee (lessor) would record in conjunction with the second quarterly payment on october 1?

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Afinance lease agreement calls for quarterly lease payments of $5,376 over a 10-year lease term, wit...

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