Business, 04.06.2020 15:58 1963038660

Sheridan Co. leased equipment to Union Co. on July 1, 2021, and properly recorded the sales-type lease at $146000, the present value of the lease payments discounted at 9%. The first of eight annual lease payments of $22000 due at the beginning of each year of the lease term was received and recorded on July 3, 2021. Sheridan had purchased the equipment for $113000. What amount of interest revenue from the lease should Sheridan report in its 2021 income statement

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Sheridan Co. leased equipment to Union Co. on July 1, 2021, and properly recorded the sales-type lea...