Business, 24.03.2020 16:57 bluenblonderw

Cody sold equipment to Jake and immediately leased the equipment back. The equipment has a remaining useful life of 10 years, and the lease term is 9 years. Jake purchased the equipment for $100,000 and the present value of Cody's minimum lease payments is $90,000. How will Cody record the transaction?

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Cody sold equipment to Jake and immediately leased the equipment back. The equipment has a remaining...