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Business, 18.02.2020 21:20 nkennaachilefu

On December 31, Year 1, Bain Corp. sold a machine to Ryan and simultaneously leased it back for 1 year. Pertinent information at this date follows: Sales price - $360,000 Carrying amount - $330,000 Present value of reasonable rentals - 34,100 Estimated remaining useful life - 12 years In Bain's December 31, Year 1 balance sheet, the deferred revenue or gain from the sale of this machine should be .A. $ 4,100
B. $34,100
C. $0
D. $30,000

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On December 31, Year 1, Bain Corp. sold a machine to Ryan and simultaneously leased it back for 1 ye...

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