Assume that Imprescia Industries leases machinery for 3 years with fixed rentals of $8,000 per year. The
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Assume that Imprescia Industries leases machinery for 3 years with fixed rentals of $8,000 per year. The agreement also requires that lmprese a purchase consumables (such as lubrication, drive bells. and springs) directly from the lessor and must spend a minimum of $1,000 per year over the lease term. What are the lease payments to be used to classify the tease for the lessee?
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In this case the 1000 per year is unavoidable and therefore at the le...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0134730370
2nd edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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